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’: http://commercialobserver.com/2014/07/two-harlem-buildings-sell-for-double-their-purchase-price/