5
Bronx 51-Building Portfolio
Past Transactions
Sold
- Portfolio
- 4000
- Residential Units
- 51
- Number of Buildings
Description
A joint venture between SG2 Properties and BlackRock Realty Advisors has acquired a 51-building multifamily portfolio in the Bronx for $300 million.
The sellers are Lewis Morris Associates and 1224 LLC, according to CoStar information. Besen Partners brokered both sides of the transaction.
The portfolio includes 4,000 residential units and 80 retail locations, mostly in the areas of Yankee Stadium, Grand Concourse, Pelham Parkway, Marbel Hill, Mount Hope, Wakefield, Kingsbridge, Highbridge, Norwood and Fordham Bronx neighborhoods.
The properties sold for almost eight times the current rent roll, and will be upgraded and renovated.
Execute CADetails
- Price: $300,000,000
- Year Closed: 2007
- Property Type: Portfolio
- Property Status: Past Transactions, Sold
- Residential Units: 4000
- Number of Buildings: 51
- Retail Units: 80
Location
- City Bronx
- State/County New York
- Neighborhood/Area Fairmont
