Washington Heights building trades for $13M

Cignature Realty Associates has closed the $13.25 million sale of a six-story corner multi-family elevator building with 54 apartments in Washington Heights.

The 41,736 s/f building at 221 Wadsworth Avenue was built in 1928. It sold for 17.4 times the current annual rent roll, at a cap rate of 3.22 percent.

Cignature's Peter Vanderpool and Lazer Sternhell represented both the buyer and the seller.

According to public records, the buyer was Chris DeAngelis of TriArch Real Estate Group, a real estate investment company based in Manhattan.