Castellan Real Estate Partners, led by managing partner John Salib, is headquartered in New York City. With a large amount of private capital under management, John Salib’s Castellan Real Estate Partners is adept at turning profits on prime real estate properties.
Last year, Castellan sold one of its Washington Heights investments to Brooklyn’s Guardian Realty Management at a significant profit, more than doubling the initial investment. Guardian Realty paid $15.4 million for the three multifamily properties consisting of nearly 70 rental units within 10 blocks of each other. Castellan acquired the three properties in 2013 for a total of just $7.6 million, according to city records.
The properties, all constructed in the 1920s, include 649 West 184th Street, consisting of 20 units encompassing around 18,000 square feet, 325 Wadsworth Avenue, consisting of 25 units at more than 21,000 square feet, and 85 Fairview Avenue, consisting of 24 units at some 15,000 square feet.
