At the core of the Castellan Real Estate Partners’ real estate investment philosophy is a strong emphasis on discipline, giving it a competitive edge over other firms. Castellan specializes in retail and residential properties that have yet to reach their full potential, focusing on asset management and sound capital investment strategies so they reach their true value under the company’s stewardship.
A recent example of this is the trio of Washington Heights residential apartment buildings that Castellan Real Estate Partners sold to Guardian Realty Management in July 2016. The portfolio includes a 17,965-square-foot property on West 184th Street, which has 20 apartments; a 21,675-square-foot on Wadsworth Avenue between West 189th and West 190th Streets, which has 25 units; and a 15,141-square-foot building on Fairview Avenue between Broadway and Broadway Terrace, which is comprised of 24 apartments. The pre-war buildings were built between 1920 and 1928. Originally purchased for $7.6 million between 2012 and 2013, the three buildings, located within 10 blocks of each other, house 69 apartments between them and sold for a total of $15.4 million.