Newswire Residential

Wexcor Capital Purchases Washington Heights Apartment Building For $5.8M

Wexcor Capital, a Great Neck, LI -based real estate investment, management and advising firm has purchased two attached multifamily buildings from Barberry Rose Management in Washington Heights for $5.8 million.

The six-story, two contiguous walk-up buildings at 565-567 and 571-573 West 175th Street, feature 61 fully rent stabilized apartments. The 48,288 sq. ft. building was built in 1914.

It sold for a cap rate of 9% and a GRM of 5.7. The buildings also sold for $95,082 price per unit and $120 price per sq. ft.

Rosewood Realty Group’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both Wexcor and Barberry Rose Management in the sale.