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

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

New York /
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.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Canada, South Korea, Germany, Singapore, and the UK top the list of countries investing in real estate. (Getty)
South Korea now No. 2 foreign investor in US CRE
South Korea now No. 2 foreign investor in US CRE
Kohl's investors have a list of changes they want implemented. (Getty)
Activist investors urge Kohl’s to cut real estate, inventory
Activist investors urge Kohl’s to cut real estate, inventory
David Umansky of Civic Builders and 720 Livonia Ave in Brooklyn (Photos via Google Maps, Civic Builders)
Charter school developer buys Brooklyn site out of bankruptcy
Charter school developer buys Brooklyn site out of bankruptcy
(iStock/Illustration by Kevin Rebong for The Real Deal)
US warehouse boom attracts foreign investors
US warehouse boom attracts foreign investors
689 Marcy Avenue in Bedford-Stuyvesant and 242, 244, 246 and 248 Bainbridge Street in Stuyvesant Heights (Google Maps)
Brookland Capital, Nager Management score Central Brooklyn deals
Brookland Capital, Nager Management score Central Brooklyn deals
Charles Koch of Koch Real Estate Investments and 2777 South Las Vegas Boulevard (Getty, iStock)
Koch buys Las Vegas casino development
Koch buys Las Vegas casino development
 61 Bond Street in Brooklyn, iStar's Jay Sugarman and GFI's Allen Gross (Photos via Google Maps, iStar and Urban Land Institute)
GFI sells ground under Ace Hotel in Brooklyn for $45M
GFI sells ground under Ace Hotel in Brooklyn for $45M
arrow_forward_ios

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

Loading...