Springhouse Partners Buys Washington Heights Buildings for $9.7M
Terence Cullen June 15, 2015, 3:30 p.m.
Soho Properties has sold off two Washington Heights apartment buildings for a combined $9.7 million, property records show, nearly double what the buildings fetched eight years ago.
The real estate investment firm sold 529 West 158th Street and 504-506 West 159th Street to Midtown based-Springhouse Partners in a combined sale brokered by Ariel Property Partners. Soho Properties confirmed that it sold 529 West 158th Street for $5.4 million and 504-506 West 159th Street for $4.3 million, per a spokesman.Soho Properties declined to comment via a spokesman. Springhouse Partners did not immediately return a call for comment.
Victor Sozio, Shimon Shkury, Michael A. Tortorici, Josh Berkowitz and Samuel Atlas of Ariel represented both the buyer and seller in the deal. The brokers declined to comment on the sale.
Around the corner from one another, the properties sit between Broadway and Amsterdam Avenue. Together the two buildings make up a total 37,122 square feet, according to Ariel. There are 31 units in 529 West 158th Street, according to property records, with another 24 apartments in 504-506 West 159th Street.
When it last traded hands in 2007, 529 West 158th Street sold for $2.8 million, according to city records. That was slightly more than the sale price for 504-506 West 159th Street, which went for $2.7 million.