DSF Group Sells Metro NYC Apartments
The property previously traded for $91 million in 2018.
Boston-based The DSF Group has sold Halstead Tarrytown, a 300-unit multifamily community in Tarrytown, N.Y. JLL Suburban Tri-State Capital Markets represented the seller and procured the buyer.
DSF had purchased the property in 2018 for $91 million, according to Yardi Matrix information. Walker & Dunlop provided the buyer with a fixed-rate, $61.6 million acquisition loan. That note matured this month.
Completed in 1998 at 1202 Crescent Drive, the multifamily community consists of 11 two-story buildings across a 23-acre site. The unit mix features one- and two-bedroom layouts ranging from 658 to 1064 square feet. Shared amenities include residents’ lounge, fitness center, clubhouse, children’s playroom, outdoor playground, as well as over 370 parking spaces.
Halstead Tarrytown is near interstates 287 and 87, which connect the property to downtown New York City, located some 29 miles south. The property has several schools, eateries and retail options nearby.
As of March, rent growth was the strongest in the New York City metro, with a 5.5 percent increase year-over-year, a recent Yardi Matrix multifamily report shows. The rate was significantly higher than the national 1.0 percent.
