Apartment Rental Masters sold a 51-building portfolio in the Bronx for $295 million. The properties include 3,611 rental units and 80 stores, most of them in the South Bronx. The unnamed buyer in the transaction is said to be a local investor backed by an equity fund. The crown jewel of the sale is the architecturally significant 13-story 1749 Grand Concourse, known as the “Lewis Morris” apartments. The deal was brokered by Besen & Associates. TRD
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Bronx portfolio moves for $295M
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