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Photo credit: Google Street View
Firm Capital, a Toronto-based private equity firm, has bought a $37M multifamily rental building portfolio in Harlem. The deal includes eight, five-storey and six-storey walk-up buildings on West 147th St, West 149th St and West 159th St (above), a total of 127 residential units and two commercial units. The acquisition was made in partnership with Rhodium Capital Advisors, a New York owner/property manager, through Firm Capital's American Realty Partners affiliate, which provides equity to established real estate operators to buy undervalued properties in gentrifying areas of high-demand US cities.
