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37 Overlook Terrace is a sizable 40,301 SF multifamily asset in Washington Heights transacting at $94/SF, which is meaningfully below the estimated market rate of approximately $110/SF for comparable product in the submarket, suggesting either a value-add play, deferred maintenance burden, or rent-stabilized rent roll trading at a discount to market rents. Washington Heights remains a liquid northern Manhattan multifamily submarket with steady renter demand driven by proximity to Columbia University Medical Center and transit access, though rent stabilization exposure on older pre-war stock can compress NOI growth. Both buyer and seller appear to be private operators with moderate track records in upper Manhattan, and no disclosed financing arrangements or distress signals are present in the transaction. The deal presents reasonable collateral fundamentals at the purchase price but would require underwriting scrutiny on unit mix, rent roll stabilization status, and deferred capital expenditure obligations given the building's estimated vintage. Overall, this is a mid-tier deal with acceptable risk profile for a bridge or acquisition loan at conservative leverage.
Deal Stats
Parties
Seller / Landlord
Baruch Frankel is a name consistent with several NYC-based private real estate owners active in northern Manhattan multifamily dispositions. The sale at $94/SF suggests either a long-hold disposition, a distressed or below-market exit, or a portfolio rationalization transaction.
Buyer / Tenant
Abraham Pultman appears to be a private NYC-based multifamily investor operating in upper Manhattan submarkets, consistent with a value-add acquisition profile in Washington Heights at a below-market price per square foot. Limited public profile suggests a smaller private operator with moderate deal volume in the northern Manhattan corridor.
Score Analysis
Why this score
Below-Market Price Per Square Foot
At $94/SF versus estimated market rate of $110/SF, the 16% discount provides margin of safety and value-add upside potential for a capable operator.
Rent Stabilization Exposure
Pre-war Washington Heights stock likely carries significant rent-stabilized units that constrain NOI growth and limit upside rental realization.
Submarket Fundamentals
Washington Heights benefits from CUMC proximity, strong transit access, and steady renter demand, providing stable occupancy and liquidity.
Operator Track Record Opacity
Limited public profile on both buyer and seller suggests smaller private operators with unclear deal volume, financing relationships, and execution capacity.
Deferred Capital Expenditure Risk
Unknown building condition, vintage, and unit mix require thorough capital reserve underwriting to validate the discount justification.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Obtain Detailed Capital Needs Assessment
Commission third-party engineering report quantifying deferred maintenance and 5-year capex obligations to validate value-add thesis and refine leverage.
Clarify Rent Stabilization Exposure
Obtain unit-level rent roll detailing RS/market-rate split, tenant protections, and RGB increase history to model realistic NOI growth trajectory.
Establish Buyer Financing & Track Record
Confirm Pultman's recent transaction history, equity sources, lender relationships, and asset management depth to validate execution capability.
Raw Deal Textclick to expand
traded + Submit Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Multifamily Sale 37 Overlook Terrace Share SOLD MultiFamily Abraham Pultman Purchases Multi-Family Asset At 37 Overlook Terrace For $3,800,000 $3,800,000 $94/SF BUILDING SIZE 40,301 SF ASSET TYPE CLOSING Jun 17, 2026 Overview Market Deal Summary Caption AI 37 Overlook Terrace is a multi-family property located in Washington Heights, Manhattan. The asset was sold for $3,800,000 and encompasses a total area of 40,301 square feet, equating to a price per square foot of approximately $94. Summary of transaction details: Property Type: MultiFamily Transaction Amount: $3,800,000 Buyer: Abraham Pultman Seller: Baruch Frankel Sale Date: 06/17/2026 Market: Washington Heights, Manhattan Square Footage: 40,301 Price Per Square Foot: $94 Baruch Frankel has completed the sale of the property, while Abraham Pultman takes ownership following the transaction. The deal was conducted with no additional financial arrangements disclosed. PLAYERS Washington Heights North MultiFamily Market Snapshot Neighborhood boundary · MultiFamily · Sale transactions Full Market → Comps 10 Listings Investors Top Brokers Lenders Jesse Deutch Of Two80 Real Estate Ventures Acquires Multifamily Property From Matthew Lembo For $3.9M 20,810 SF · Jul 2024 New York, New York $3,900,000 $187/SF 0.2 mi Avraham Dishi Acquires Apartment In Washington Heights, Manhattan For $4.6M 17,522 SF · Mar 2022 $4,568,045 $260/SF 0.4 mi Roey Yaloz Sells Washington Heights Multifamily For $2.6 Million With Broker Zachary Fuchs 29,538 SF · Dec 2025 $2,600,000 $88/SF Amit Doshi & Shallini Mehra Acquire Multifamily Property In Washington Heights For $3.4M 17,760 SF · Dec 2021 $3,400,000 $191/SF Fort George Multifamily Sold For $4.14M With Brokers Joseph Koicim Seth Glasser Michael Fusco Christopher Mehran 50,094 SF · Feb 2026 $4,137,500 $82/SF Scott Zelekowitz Acquires Multifamily In Fort George, Manhattan For $2.85M 22,100 SF · Jun 2024 $2,850,000 $129/SF Seven Equities Acquires Multifamily Property In Washington Heights For $3.35M 12,280 SF · Dec 2021 $3,350,000 $272/SF Greg Corbin, Chaya Milworn & Felix Ades Of Northgate Real Estate Group Sell Multifamily In Fort George For $4.61M 35,305 SF · Dec 2025 $4,610,000 $130/SF 0.5 mi Samuel M Schreiber Acquires MultiFamily Property In Washington Heights For $3.76M From Edward Anthony McCool 45,215 SF · Nov 2025 $3,760,000 $83/SF Chestnut Holdings Acquires 46-Unit Multifamily Building In Washington Heights For $3.4M 35,450 SF · Oct 2023 $3,425,000 $96/SF Live MORE DEALS $3.9M $4.6M $2.6M $3.4M $4.1M $2.9M $3.8M NEARBY MARKETS NEIGHBORHOODS Central Harlem North-Polo Grounds Hamilton Heights Manhattanville Washington Heights South Marble Hill-Inwood Highbridge West Concourse Mount Hope University Heights-Morris Heights East Concourse-Concourse Village Belmont East Tremont BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Fort Lee Elizabeth STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed Nat @traded NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 300K+ The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use