RJ Block Properties Acquires Affordable Housing And Retail Asset In Bronx For $45.75M

The property asset involved in this transaction is located at 253 East 142nd Street - Morris Court in the Bronx. It consists of affordable housing, retail space, and a garage. The total sale price is $45,750,000, with 201 units available, providing a price per unit of $227,611. The total square footage of the property is 267,463, which translates to a price per square foot of $171.

Summary of transaction details:

• Property Type: Affordable Housing + Retail & Garage
• Transaction Amount: $45,750,000
• Units: 201
• PPU: $227,611
• SF: 267,463
• PPSF: $171
• Buyer: RJ Block Properties
• Brokers: Mike Kerwin, Aaron Jungreis, Ben Khakshoor & Alex Fuchs - Rosewood Realty Group
• Date of Sale: 11/27/2024

The transaction involved key representatives from Rosewood Realty Group, specifically Mike Kerwin, Aaron Jungreis, Ben Khakshoor, and Alex Fuchs, who facilitated the deal for RJ Block Properties. Each broker played a pivotal role in the successful completion of this transaction in the Bronx market.