Isaac Herskovitz recently purchased the Dunbar Apartments, a historic residential community in central Harlem, from Fairstead for $86.75 million. Located at 226 W 150th St, the 10-building complex encompasses a city block and is listed on the National Register of Historic Places. The buildings were sold at an impressive cap rate of 7.67%, $199 per square foot, and a price of $161,546 per unit with MF1Capital providing an acquisition loan of $83 million for this transaction.
Rosewood Realty Group represented both buyer and seller in this deal with Aaron Jungreis Ben Khakshoor Alex Fuchs as well as Westwood’s Steven Vegh facilitating it successfully since July 2018 when Fairstead took over the property to execute its comprehensive rehabilitation plan that restored its historic charm perfectly . This sale marks another milestone in New York City’s real estate market history!
