Peter Hungerford's PH Realty Capital And Longacre Asset Management Purchase Bronx Properties From Morris Weinberg For $42.7M

A transaction took place involving four properties located at 1187 Anderson Avenue, 1210 Woodycrest Avenue, 1220 Shakespeare Avenue, and 1230 Woodycrest Avenue in the High Bridge neighborhood of the Bronx. The assets, categorized as MultiFamily and Mixed-use, were sold for $42,723,432. The total square footage of the properties is 282,682, resulting in a price per square foot of $151.

Summary of transaction details:

• Property Type: MultiFamily & Mixed-use
• Transaction Amount: $42,723,432
• Buyer: Peter Hungerford - PH Realty Capital & Rockledge - Longacre Asset Management
• Seller: Morris Weinberg
• Square Footage: 282,682
• Price Per Square Foot: $151

Longacre Asset Management, a joint venture between Peter Hungerford’s PH Realty Capital and Rockledge, acquired the properties after purchasing the $38.2 million loan tied to the assets and initiating a pre-foreclosure action against the seller, Morris Weinberg.