Yechiel Newhouse Acquires Multifamily Property In Soundview For $24.4M

The multifamily property located at 1240 Morrison Ave. in Soundview, Bronx, was recently sold for a price of $24,412,000. The transaction took place on April 27, 2021. The property consists of 154 units, with an average price per unit of $158,441. The total square footage of the property is 147,600, leading to a price per square foot of $165. The property has a capitalization rate of 6.5%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $24,412,000
• Units: 154
• Price per Unit: $158,441
• Square Footage: 147,600
• Price per Square Foot: $165
• Capitalization Rate: 6.5%

The buyer of the property is Yechiel Newhouse. The seller is Stellar Management. The deal was facilitated by the brokers Aaron Jungreis, Ben Khakshoor, and Alex Fuchs of Rosewood Realty Group.