A 91-unit apartment building at the corner of West End Avenue and 101st Street has traded for $83 million, an uplifting note in an otherwise dreary market.
An entity called Sterling American Property Fund IV bought the building, 845 West End Avenue, from Nostra Realty Corp on July 24, according to a deed that entered city records yesterday.
The purchaser had to put down $23 million for the purchase (27.8 percent) and got $60 million in financing from Valley National Bank, according to CoStar.
13,398-square-foot building was built in 1930. Two-bedroom apartments in the building rent for between $6,250 and $8,500 a month, according to streeteasy.com.
Correction: The building’s square footage is 200,981.