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Phoenix Realty Group Acquires Bronx Multifamily Portfolio For $91M

501-513, 523, 539 & 549-561 Commonwealth Avenue. & 502, 520, 540-542 & 550 Rosedale Avenue
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This MultiFamily property located in NY was sold for $91,000,000 over 2 years ago. The brokers of the deal were Victor Sozio, Shimon Shkury, Michael Tortorici, Jason M. Gold, and Daniel Mahfar

Phoenix Realty Group has acquired a multifamily property in Bronx for $91,000,000. The property, located at 501-513, 523, 539 & 549-561 Commonwealth Ave. & 502, 520, 540-542 & 550 Rosedale Ave., spans a total of 376,218 square feet. With a price per square foot of $241, the property consists of 472 units, resulting in a price per unit of $192,796.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $91,000,000
  • Square Footage: 376,218
  • Price per Square Foot: $241
  • Number of Units: 472
  • Price per Unit: $192,796

The sale was facilitated by Victor Sozio, Shimon Shkury, Michael Tortorici, and Daniel Mahfar from rielPA.NYC. The seller, Spencer Equity Group, successfully closed the deal with Phoenix Realty Group.

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Deals
  • Location
    501-513 Commonwealth Ave, Bronx, NY, USA501-513 Commonwealth Ave, Bronx, NY, USA
  • Sale Price
    $91,000,000$91,000,000
    $241 PPSF$241 PPSF
  • Area
    376,218 SF376,218 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Victor Sozio

Victor Sozio

Deals79
Financed$1.8B

Agency

Ariel Property Advisors

Ariel Property Advisors

Agency
Deals458
Volume$7B

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Deal Summary

SALE IMAGE: Victor Sozio, Shimon Shkury, Michael Tortorici & Daniel Mahfar DATE: 09/17/2021 ADDRESS: 501-513, 523, 539 & 549-561 Commonwealth Ave. & 502, 520, 540-542 & 550 Rosedale Ave. MARKET: Bronx ASSET TYPE: Multifamily BUYER: Phoenix Realty Group SELLER: Spencer Equity Group BROKERS: Victor Sozio, Shimon Shkury, Michael Tortorici & Daniel Mahfar - @ArielPA.NYC SALE PRICE: $91,000,000 SF: 376,218 ~ PPSF: $241 UNITS: 472 ~ PPU: $192,796

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501-513, 523, 539 & 549-561 Commonwealth Avenue. & 502, 520, 540-542 & 550 Rosedale Avenue

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