Top 5 NYC Multifamily Building Sales—July 2021
- Aug 27, 2021
- 220 E. 197th St., Bronx
Sale Price: $30,650,106
The Neighborhood Restore Housing Development Fund Corp. sold a two-building portfolio that also included 15-19 W. Mosholu Parkway N. to the Fordham Bedford Housing Corp. The communities, located in Bedford Park and Norwood, encompass a combined 115 units. The buyer secured $27.8 million in acquisition financing through the New York City Department of Housing Preservation and Development.
- 908 Bedford Ave., Brooklyn
Sale Price: $23,370,000
An entity affiliated with Express Builders JB acquired a three-building, 54-unit portfolio in Bedford-Stuyvesant from a private investor. The new owner assumed the $18.3 million outstanding balance of an existing loan, originated by Investors Bank in 2020. The adjacent buildings are located at 902 Bedford Ave. and 904 Bedford Ave. All three 18-unit properties were completed in 2005.
- 409-413 E. 84th St., Manhattan
Sale Price: $21,700,000
Private equity real estate firm Henley Investments sold the two contiguous Yorkville buildings to an affiliate of Aulder Capital. The new owner secured a $15.2 million, permanent loan from Greystone; terms include a 6.5 percent interest rate and a June 2031 maturity date. The assets include 48 units and previously changed hands in 2017 when Henley acquired them for $21 million.
- 1206 Westchester Ave., Bronx
Sale Price: $16,670,807
In one of the biggest deals in the first half of the year in the borough, the Foxhurst property was part of a 15-building portfolio Blackshore Realty Capital sold for a combined $122 million to Neighborhood Restore Housing Development Fund. Totaling 769 units, the portfolio includes 1097 Walton Ave., 1177 Walton Ave., 1857 Walton Ave.,1881 Walton Ave., 2160 Walton Ave., 373-375 E 188th St., 1575 Townsend Ave., 1245 Findlay Ave., 1410 Grand Concourse, 1454 Grand Concourse, 2290 Davidson Ave., 2344 Davidson Ave., 1805 University Ave. and 1815 University Ave. The buyer secured three loans exceeding $135 million through HDC.
- 9949 Shore Road, Brooklyn
Sale Price: $13,800,000
An entity connected to FCD Raymond Realty sold the 48-unit Bay Ridge property to Meridian Properties LLC. The new owner secured $10 million in acquisition financing from Signature Bank. The six-story building, completed in 1931, last changed hands in 1972. The 61,000-square-foot property includes 32 free-market and 16 regulated apartments.