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	<title>Observer &#187; Uptown Portfolio—22 Buildings With 500 Apartments, Zowee—Hits the Market for $100 M.</title>
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		<title>Observer &#187; Uptown Portfolio—22 Buildings With 500 Apartments, Zowee—Hits the Market for $100 M.</title>
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		<title>Uptown Portfolio—22 Buildings With 500 Apartments, Zowee—Hits the Market for $100 M.</title>

		<comments>http://observer.com/2007/10/uptown-portfolio22-buildings-with-500-apartments-izoweeihits-the-market-for-100-m/#comments</comments>
		<pubDate>Tue, 09 Oct 2007 22:48:40 -0400</pubDate>
					<link>http://observer.com/2007/10/uptown-portfolio22-buildings-with-500-apartments-izoweeihits-the-market-for-100-m/</link>
			<dc:creator>John Koblin</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/breaks-bobknakal1v.jpg?w=218&h=300" />Are you interested in buying a piece of Washington Heights and East Harlem?
<p class="text"><span style="letter-spacing: 0.25pt">It’s available now for about </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">$100 million.</span></strong><span style="letter-spacing: 0.25pt"> A portfolio of 19 Washington Heights walk-ups, as well as a condo and two apartment buildings in East Harlem, will hit the market later this week through the brokerage </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">Massey Knakal</span></strong><span style="letter-spacing: 0.25pt">, a source said. The buildings include 500 apartments and about 12 stores that were given the thrilling portfolio name of “New 118th LLC Portfolio.”</span></p>
<p class="text"><span style="letter-spacing: 0.25pt">The </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">Ivy Condominium</span></strong><span style="letter-spacing: 0.25pt"> at </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">2301 Second Avenue</span></strong><span style="letter-spacing: 0.25pt">, which is between 118th and 119th streets, will be available for about </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">$15 to $16 million</span></strong><span style="letter-spacing: 0.25pt">, a source said. The Ivy is a newly constructed building with 28 condos, complete with an elevator. Sixteen of those condos are already in contract at prices around $660 per square foot, according to the brochure marketing the condo.</span></p>
<p class="text"><span style="letter-spacing: 0.15pt">Two apartment buildings nearby, at </span><strong><span style="letter-spacing: 0.15pt;font-family: 'Exchange Text Bold'">234-236 East 118th Street</span></strong><span style="letter-spacing: 0.15pt"> between Second and Third avenues, are available for about </span><strong><span style="letter-spacing: 0.15pt;font-family: 'Exchange Text Bold'">$3.5 million</span></strong><span style="letter-spacing: 0.15pt"> total, the source said. The buildings include 20 railroad apartments, a studio and the super’s apartment. (<em>Ahhhh</em>, railroad apartments! Nothing warms the heart quite like walking through your roommate’s room and finding him in a rather, errr, private moment.)</span></p>
<p class="text">Meanwhile, farther uptown, there are 19 apartment buildings available in Washington Heights for about <strong><span style="font-family: 'Exchange Text Bold'">$80 million</span></strong>, the source said. The apartments are mostly five-story walk-ups and the majority of them are in the West 180’s near Amsterdam Avenue.</p>
<p class="text">The portfolio became available to the crew at Massey Knakal thanks to the misfortune of one Michael Herskowitz, who filed for Chapter 11. Massey Knakal is representing the bankruptcy trustee.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/breaks-bobknakal1v.jpg?w=218&h=300" />Are you interested in buying a piece of Washington Heights and East Harlem?
<p class="text"><span style="letter-spacing: 0.25pt">It’s available now for about </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">$100 million.</span></strong><span style="letter-spacing: 0.25pt"> A portfolio of 19 Washington Heights walk-ups, as well as a condo and two apartment buildings in East Harlem, will hit the market later this week through the brokerage </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">Massey Knakal</span></strong><span style="letter-spacing: 0.25pt">, a source said. The buildings include 500 apartments and about 12 stores that were given the thrilling portfolio name of “New 118th LLC Portfolio.”</span></p>
<p class="text"><span style="letter-spacing: 0.25pt">The </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">Ivy Condominium</span></strong><span style="letter-spacing: 0.25pt"> at </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">2301 Second Avenue</span></strong><span style="letter-spacing: 0.25pt">, which is between 118th and 119th streets, will be available for about </span><strong><span style="letter-spacing: 0.25pt;font-family: 'Exchange Text Bold'">$15 to $16 million</span></strong><span style="letter-spacing: 0.25pt">, a source said. The Ivy is a newly constructed building with 28 condos, complete with an elevator. Sixteen of those condos are already in contract at prices around $660 per square foot, according to the brochure marketing the condo.</span></p>
<p class="text"><span style="letter-spacing: 0.15pt">Two apartment buildings nearby, at </span><strong><span style="letter-spacing: 0.15pt;font-family: 'Exchange Text Bold'">234-236 East 118th Street</span></strong><span style="letter-spacing: 0.15pt"> between Second and Third avenues, are available for about </span><strong><span style="letter-spacing: 0.15pt;font-family: 'Exchange Text Bold'">$3.5 million</span></strong><span style="letter-spacing: 0.15pt"> total, the source said. The buildings include 20 railroad apartments, a studio and the super’s apartment. (<em>Ahhhh</em>, railroad apartments! Nothing warms the heart quite like walking through your roommate’s room and finding him in a rather, errr, private moment.)</span></p>
<p class="text">Meanwhile, farther uptown, there are 19 apartment buildings available in Washington Heights for about <strong><span style="font-family: 'Exchange Text Bold'">$80 million</span></strong>, the source said. The apartments are mostly five-story walk-ups and the majority of them are in the West 180’s near Amsterdam Avenue.</p>
<p class="text">The portfolio became available to the crew at Massey Knakal thanks to the misfortune of one Michael Herskowitz, who filed for Chapter 11. Massey Knakal is representing the bankruptcy trustee.</p>
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