E&M sells its final Bronx property for $31M

Brooklyn-based investor bought 975 Walton Avenue in 2010 for $11 million

New York /
Apr.April 15, 2015 02:06 PM

E&M Associates, a prominent Brooklyn-based multifamily landlord, sold its final property in the Bronx for $31 million, The Real Deal has learned.

E&M, which owns and manages thousands of apartments all over the city, acquired 975 Walton Avenue in 2010 for roughly $11.3 million, as part of a 21-building package, according to Rosewood Realty Group’s Aaron Jungreis, who brokered the deal.

Brooklyn-based investor Benzion Kohn is the buyer, sources said. Kohn also bought 155 West 162nd Street from E&M last year for $9.5 million.

Jungreis said that he has seen an uptick in activity in the borough, adding that he sold 59 buildings in the Bronx thus far this year.

The six-story, elevator building at 975 Walton, in close proximity to Yankee Stadium, includes 182 residential rental units across 278,000 square feet, as well as 1,000 square feet of commercial space. It was the site of a six-alarm fire in 2012 that wounded 28 firefighters and three residents.

In December, E&M sold 13 buildings, 11 in the Bronx and two in Northern Manhattan, for $53.7 million, as TRD reported. Earlier in 2014, it bought an 84-building package in Upper Manhattan from Baruch Singer for $340 million and a 539-unit portfolio from Coltown Properties for $75 million in 2013.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
This former plantation in Virginia was purchase by an Air Force veteran who later found out his relatives had been enslaved there. (Google)
Air Force vet unknowingly buys home where his ancestors were enslaved
Air Force vet unknowingly buys home where his ancestors were enslaved
The Colorado Fire burns down toward the Bixby Bridge in Big Sur, California, early Saturday morning. (Photo by Karl Mondon/MediaNews Group/The Mercury News via Getty Images)
Wildfire near Big Sur sends hundreds fleeing
Wildfire near Big Sur sends hundreds fleeing
360 Kingsland Avenue in Greenpoint, Brooklyn (Google)
Sitex Group pays $30M for Greenpoint industrial property
Sitex Group pays $30M for Greenpoint industrial property
(Getty)
Intel investment in new Ohio chip plant could reach $100B
Intel investment in new Ohio chip plant could reach $100B
Et tu, Caravaggio? Roman home asking $534M gets zero bids at auction
Et tu, Caravaggio? Roman home asking $534M gets zero bids at auction
Et tu, Caravaggio? Roman home asking $534M gets zero bids at auction
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...