Castellan Completes Major Transactions in First Half of 2017
A graduate of Columbia Business School, John Salib has worked in the New York and Tokyo offices of Salomon Smith Barney and founded and served as a partner of Landmark Advisors. Currently, John Salib leads as a managing partner at Castellan Real Estate Partners, a New York firm that has completed multiple notable transactions in the first half of 2017.
Following a 2016 during which it was involved in a number of major transactions, Castellan announced in March that it had completed the sale of a multifamily portfolio in Harlem. Located on West 146th Street between Seventh Avenue and Frederick Douglass Boulevard, the five-building, 47,500-square-foot property consists of 100 one and two bedroom units, all of which were occupied at the time of the sale. Castellan sold the property for $23 million, which is more than double its 2013 purchase price of $11.1 million.
Subsequently, in May, Castellan purchased a five-story property on Chambers Street in the prime section of Tribeca. Acquired for $10.7 million, the five-story building features more than 2,100 square feet of retail space on its ground floor, loft apartments on each of its next three floors, and a pair of residential units on its fifth floor. The building sits within a block of City Hall Park and has easy access to a dozen subway lines, making it a desirable location for many.v