The Community Preservation Corporation, The Community Development Trust, Monadnock Development, Red Stone Equity Partners & The Black Developers Network Triboro Acquire NYC LIHTC Portfolio Multifamily For $36.5M

The recent sale in the NYC LIHTC Portfolio involved a multifamily property spanning across Brooklyn, Bronx, and Manhattan. The sale was facilitated by Victor Sozio and Shimon Shkury of Ariel Property Advisors on behalf of the seller, Dunn Development Corp. - Martin Dunn. The Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development, Red Stone Equity Partners, and The Black Developers Network Triboro emerged as the buyers in this transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $36,500,000 (Partial Interest)
• Units: 1,036
• Square Footage: 1,074,191
• Address: NYC LIHTC Portfolio
• Market: Brooklyn, Bronx, Manhattan

Additional key individuals and companies involved in the deal include The Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development, Red Stone Equity Partners, and The Black Developers Network Triboro as buyers. Victor Sozio and Shimon Shkury of Ariel Property Advisors served as the brokers representing the parties involved in the transaction.