WHITE PLAINS, NY– Investment sales broker Northeast Private
Client Group has announced the sale of three Bronx apartment properties: 2265 Morris Avenue, 2271 Morris Avenue and
2345 Crotona Avenue, which traded together as an 83-unit portfolio for
$6,333,000.
 |
| Anthony Watkins |
Edward Jordan,
JD, CCIM the firm’s managing director, and Anthony Watkins, a licensed
associate in the firm’s White Plains office, represented the buyer in the
off-market transaction which closed on June 25th.
“This Bronx
portfolio represents a great repositioning play,” notes Jordan. “The time was right for a well-capitalized
investor to take these assets to the next level. With our regional brokerage platform, we were able to identify
just the right buyer for the assignment and get it closed.”
The buyer, a prívate
investor based in New York, purchased the three-building multifamily portfolio
for a price that equates to $76,300 per unit, in excess of seven times gross
rents for five-story walkup buildings. The seller, a Florida-based investment
group, acquired the properties from New York Community Bank several years
earlier.
 |
| Edward Jordan |
“The success of this
transaction is a direct result of our commitment to relationship-based
brokerage,” explains Jordan. “With our relationships and market expertise, we
identified the buyer best suited to the opportunity.”
For a complete
copy of the company’s news release, please contact:
Rick Leonard
203.434.7734
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