Bronx multifamily deal leads New York’s mid-market investment sales

Yonkers-based LLC purchased the 75-unit Bronx building for about $14M

Mar.March 02, 2020 07:00 AM
1515 Grand Concourse and 16 East 82nd Street (Credit: Google Maps, 16 East 82nd Street via Leslie J. Garfield) 

1515 Grand Concourse and 16 East 82nd Street (Credit: Google Maps, 16 East 82nd Street by Duplex NYC via Leslie J. Garfield)

There were a pair of deals last week for New York’s mid-market buildings: one for a multifamily building in the Bronx and one for a townhouse in Manhattan. Here are the details:

1. A Yonkers-based LLC purchased 1515 Grand Concourse in The Bronx from The Morgan Group for about $13.8 million. The multifamily building stands six stories tall with 75 units, and it is located in the borough’s Mt. Eden neighborhood.

2. The JM Revocable Trust purchased a five-story townhouse in Manhattan for $12.25 million. The eight-unit building is located at 16 East 82nd Street on the Upper East Side, and the Trust purchased it from a Manhattan-based LLC. The property is currently set up as a doctor’s office on the ground floor with six residential apartments above. Leslie J. Garfield & Co., which had that had the listing, pitched the property as a good opportunity for a single-family conversion.

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