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Bronx Multifamily Portfolio Trades for $136M

NEW YORK CITY-Taconic and ING purchase a 1,416-unit apartment complex, marking Taconic's second recent middle-income housing acquisition.

By Katie Hinderer | Updated on March 28, 2007

(To read more on the multifamily market, click here.)

NEW YORK CITY-Taconic Investment Partners and ING Clarion Partners has bought the 1,416-unit Eastchester Heights apartment complex here in the Bronx. The JV paid $136 million for the property.

Urban American LP and City Investment Fund jointly sold the portfolio which consists of low-rise, moderate-income housing at 1400 Hicks St., 3485 Corsa Ave., 3444 Fish Ave., 3438 Wilson Ave. and 3437 Eastchester Rd., according to David Berger, senior managing director with GFI Realty Services. Berger together with colleagues Aaron Jungreis and Jay Davidson represented the buyer and seller.

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