Galil Management Buys Hamilton Heights Apartment Building for $41M [Updated]


Brooklyn-based multifamily landlord Galil Management, formerly known as E&M Associates, has purchased a Hamilton Heights apartment building at 680 St. Nicholas Avenue from Pembroke Companies and Ares Management for $41 million, according to city records published today.

The sale of the 112-unit rental building closed on Sept. 17, records show. The 132,000-square-foot property, which is between West 141st and West 145th Streets, is eight stories and has five retail spaces at its base, which includes Dunkin’ Donuts and Famous Fish Market.

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Pembroke Companies and Area Property Partners (which was acquired by Ares Management in 2013) bought the building from Gili Haberberg in 2012 for $23.6 million, according to The Real Deal. An Ares Management representative did not immediately respond to a request for comment.

An Ariel Property Advisors team led by Shimon Shkury and Victor Sozio represented the selling party in the transaction. The buyer did not have a broker. Messrs. Shkury and Sozio declined to comment.

Galil Management has been very active in the past few months in the area. Last month, the Brooklyn company sold a nearly 200-apartment, eight-building portfolio in Hamilton Heights and Harlem for a combined $55 million, as CO previously reported. Also, in April Galil Management bought a 47-unit residential and retail building at 3621 Broadway in Hamilton Heights from Sugar Hill Capital Partners for $25.5 million.

A representative for Galil Management wasn’t in the office by publication time.

Update: This article was updated to include the brokers on the deal.