Chestnut Holdings Acquires Multifamily Property In Belmont, Bronx For $3.4M

A multifamily property located at 550 E. 182nd St. in Belmont, Bronx has been sold in a closed transaction. The sale took place on March 23, 2022, with the buyer being Chestnut Holdings represented by Ardon Wiener. The broker involved in the deal was Ron Cohen, who represented Chestnut Holdings. The property consists of 24 units and spans approximately 18,000 square feet. The sale price for this property was $3,375,000, resulting in a price per unit of $140,625. The price per square foot was calculated to be $187.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,375,000
• Units: 24
• Price per Unit: $140,625
• Square Footage: 18,000
• Price per Square Foot: $187
• Buyer: Chestnut Holdings - Ardon Wiener
• Broker: Ron Cohen - Besen Partners

This transaction highlights the successful sale of a multifamily property in the Belmont market of the Bronx. The involvement of Chestnut Holdings as the buyer, represented by Ardon Wiener, showcases their interest in expanding their real estate portfolio. Ron Cohen, from Besen Partners, played a crucial role as the broker for Chestnut Holdings, ensuring a smooth transaction. The sale price of $3,375,000 indicates the value of the property and the potential it holds for future returns. This deal serves as a notable example of the active real estate market in Belmont, Bronx.