31.07.2014 01:39


The Coutinho family of companies is happy to announce that it has consummated its purchase of the Marolda family’s Central Park North portfolio.  Consisting of two elevator buildings, with a total of forty-nine units and over forty-three thousand square feet.  At such relatively inexpensive metrics as a capitalization rate of 4.25% and at two-hundred and ninety-dollars per square foot, the purchase represents a rare value for money in the current, over-heated New York property market.  Especially so given the fact that the two buildings are located in a rapidly gentrifying area of Manhattan.  See the attached article about the purchase in the 28th of July edition of the ‘Commercial Observer’: