Longacre Acquires 2021-Unit Multifamily Portfolio From Related Fund Management For $192.5M In Bronx

A 2,021-unit rent-stabilized multifamily portfolio was sold in the Bronx for $192.5 million. The properties are located at 2100 Bronx Park East, 316 Mosholu Parkway, and 2780 University Avenue, representing a significant transaction in the Bronx market. The price per unit for this sale was approximately $95,250.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $192,500,000
• Buyer: Peter Hungerford - Longacre
• Seller: Jeff T. Blau - Related Fund Management
• Brokers: Gary Phillips & Will Silverman - Eastdil Secured
• Units: 2,021
• Price Per Unit: $95,250
• Acquisition Financing: $141,000,000 provided by PGIM

The deal involved Peter Hungerford of Longacre acquiring the multifamily portfolio from Jeff T. Blau of Related Fund Management. The transaction was facilitated by brokers Gary Phillips and Will Silverman from Eastdil Secured, highlighting their role in the process.