Related Fund Management Sells Bronx Multifamily To FBE Ltd. For $87.9M

An multifamily property located at 2001-2045 Story Ave in the Bronx has been sold for a total price of $87,900,000. The property consists of 355 units and has a total square footage of 421,833. The price per square foot for this transaction was $208, and the price per unit was $247,605. This sale marks the largest single asset transaction in the Bronx since 2016, with a price of $248K per door.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $87,900,000
• Address: 2001-2045 Story Ave
• Market: Bronx

The seller of the property was Related Fund Management, while the buyer was FBE Ltd., represented by Abe Fruchthandler. Hodges Ward Elliott facilitated the transaction, with brokers Daniel Parker, Paul Gillen, Ariel Tambor, and Kyle Van Buitenen representing both the buyer and the seller.