InterVest Capital Partners Acquires Bronx Multifamily Portfolio For $65M
SOLD
$65,000,000
New York
See Similar DealsMultiFamily497,824 SF
Sold 01/31/2023
SOLD
InterVest Capital Partners Acquires Bronx Multifamily Portfolio For $65M
1114 Gerard Avenue
See Similar DealsMultiFamily497,824 SF
Sold 01/31/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$130
Total Square Footage:497,824 SF
Transaction Type:Sale
The multifamily property located at 1098-1114 Gerard Avenue, 1197 Grand Concourse, 1065 Jerome Avenue, 1534 Selwyn Avenue, 2543-2567 Decatur Avenue, 2608 Creston Avenue, and 2353-3257 Crotona Avenue in the Bronx has been sold. The transaction took place on January 31, 2023. The property spans a total of 497,824 square feet with an average price per square foot of $131. The deal was closed at a price of $65,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Square Footage: 497,824
- Price per Square Foot: $131
- Market: Bronx
The buyer of the property is InterVest Capital Partners, while the sellers are Taconic Partners and Clarion Partners. The brokers involved in the transaction were Adam Spies, Adam Doneger, and Eric Roth from Cushman & Wakefield.
Players
SELLER
SELLER
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
Is there something missing? Send suggestions