Over the past eight years, Castellan Real Estate Partners has concluded approximately $875 million in debt- and equity-based acquisitions. Headed by cofounders Paul and John Salib,
the New York City-headquartered firm is known for both delivering high returns on investment and renovating its purchased properties into environmentally efficient buildings with low tenant turnover.
Among Castellan Real Estate Partners’ most recent successful deals is the sale of an East Harlem mixed-use property for close to $25 million. The sale delivered almost double Castellan’s initial investment of $13.5 million after only four years.
The set of four buildings includes three commercial units and 108 residential units, nearly all of which are rent-stabilized. Three of the buildings are situated in the 300 block of East 117th Street, between First and Second Avenues. Two of these buildings are side by side. An additional building sits at a corner of East 117th. Altogether, the four structures comprise more than 64,000 square feet.
The pre-World War II buildings are part of the rich historical and cultural heritage of the East Harlem neighborhood, known for its history as a haven for Italian, Puerto Rican, and Caribbean newcomers. The treelined stretch of East 117th Street nearby is also home to a public school, P.S. 155.
the New York City-headquartered firm is known for both delivering high returns on investment and renovating its purchased properties into environmentally efficient buildings with low tenant turnover.
Among Castellan Real Estate Partners’ most recent successful deals is the sale of an East Harlem mixed-use property for close to $25 million. The sale delivered almost double Castellan’s initial investment of $13.5 million after only four years.
The set of four buildings includes three commercial units and 108 residential units, nearly all of which are rent-stabilized. Three of the buildings are situated in the 300 block of East 117th Street, between First and Second Avenues. Two of these buildings are side by side. An additional building sits at a corner of East 117th. Altogether, the four structures comprise more than 64,000 square feet.
The pre-World War II buildings are part of the rich historical and cultural heritage of the East Harlem neighborhood, known for its history as a haven for Italian, Puerto Rican, and Caribbean newcomers. The treelined stretch of East 117th Street nearby is also home to a public school, P.S. 155.
