(To read more on the multifamily market, click here.)
BRONX, NY-A locally based family investor group has acquired a 48-unit pre-war apartment building in the Kingsbridge Heights section of the borough. The multifamily asset sold for nearly $4.48 million.
Andrew Hargadon of Metro Property Group brokered the deal, which was facilitated with 6.24% fixed-rate financing. Metro Property Group, LLC is a subsidiary of Houlihan-Parnes / iCap Realty Advisors. The seller was represented by Andrew Albstein of Goldberg, Weprin & Ustin, LLP of New York City.
Hargadon says the building at 3120-3130 Kingsbridge Ave. sold at market value. The five-story walk-up does not feature any amenities and the rental rates range from $950 to $1,400 a month.
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