Tredway Acquires Multifamily Asset From Related Companies In Far Rockaway For $88M

The property asset is a multifamily building located at 125 Beach 17th Street in Far Rockaway, Queens. It comprises a total of 607 units within a substantial square footage of 748,461, with a sale price of $88,000,000, representing a price per unit of $144,975 and a price per square foot of $117.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $88,000,000
• Units: 607
• Square Footage: 748,461
• Price Per Unit: $144,975
• Price Per Square Foot: $117
• Buyer: Tredway
• Seller: Related Companies
• Brokers: Victor Sozio, Shimon Shkury, Remi Mandell & Jake Brody - Ariel Property Advisors

The transaction involved Tredway as the buyer and Related Companies as the seller, with Victor Sozio, Shimon Shkury, Remi Mandell, and Jake Brody representing the brokers from Ariel Property Advisors in this deal.