The 52-unit package, located at 517 West 180th Street and 570 West 182nd Street, sold for $15.8 million, which represents $423 psf. Investors enthusiastic about Washington HeightsĪriel Property Advisors brokered the sale of a two-building multifamily portfolio in Washington Heights. The cap rate for the sale is 3.7 percent. Rosewood Realty Group announced the $33 million sale of a six- story, 100-unit elevator apartment building at 70 Dahill Road in the Kensington section of Brooklyn.Īaron Jungreis, president, Rosewood Realty Group, represented both the buyer, Lourdes Realty Group LLC, and the seller, Sentinel Real Estate Corporation.īuilt in 1934, the building measures 102,000 s/f and sold for 18.5 times the rent roll generated by six studios, 61 one-bedrooms, 26 two-bedrooms and seven three-bedroom apartments, as well as ancillary income from tenant storage units. Rosewood brokers sale of Sentinel building In February, the company sold 11 West 172nd Street to Ved Parkash in a $10.5 million trade. The package is the second from the original E&M portfolio to be sold by Paradise. Steven Vegh of Westwood Realty was the sole broker on the off-market dea. The properties are located at 41 West 184th Street, 2291 University Avenue, 226 West Tremont Avenue, 1786 Topping Avenue, 1631 Grand Avenue and 2322 Grand Avenue in The Bronx and 151 and 159 West 228th Street in Marble Hill. Combined, the contain 226 residential units and two stores. The portfolio consists of one elevator and five walkup apartment buildings in the Bronx and two walkup buildings in Marble Hill. Paradise Management was the seller, having purchased the buildings as part of a $54 million E&M portfolio sale in 2014. Long Island based CapX Holdings has closed on the purchase of an eight-building package in the Bronx and Marble Hill section of New York for around $35 million. Paradise finds buyer for apartment package Ralf Spann, Country Manager Akelius US: “We will continue our strategy of cherry picking buildings in prime locations in New York, Boston and Washington.” Since it first entered the US market in 2015, Akelius has built its multifamily portfolio to 1,090 units across the north east. The property closed for $725,000 per unit, accroding to Greysteel, a national commercial real estate investment services firm which represented both the seller, a local private investor, and the buyer.Īkelius also purchased a property at 19th Street Northwest, located near the Meridian Hill Park in Washington DC. Three of the units are rent stabilized, and the remaining seven units are free market. 185 Prospect Park Westġ85 Prospect Park West, built in 1920, consists of 10 units. The company closed on two purchases totaling $17 million. Swedish property giant Akelius continued to bulk up its US multifamily portfolio this week.
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