Heritage Affordable Communities Acquires Multifamily Portfolio In Mott Haven, Bronx For $8.6M

The multifamily property located at 225, 278, 282 St. Ann's Ave., 510, 518 East 139th St., & 605 East 138th St. in Mott Haven, Bronx, has been sold. The property consists of 86 units with a total square footage of 80,349. The sale price for this transaction was $8,625,000, resulting in a per unit price of $100,291 and a price per square foot of $107.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,625,000
• Units: 86
• Price per Unit: $100,291
• Total Square Footage: 80,349
• Price per Square Foot: $107
• Market: Mott Haven, Bronx

The buyer of this property was Heritage Affordable Communities, while Castellan Real Estate Partners, represented by Steven Victor, acted as the seller. The transaction was facilitated by brokers Victor Sozio, Shimon Shkury, Jason M. Gold, and Daniel Mahfar from Ariel Property Advisors.