The Community Preservation Corporation, The Community Development Trust, Monadnock Development, Red Stone Equity Partners, And Black Developers Network Triboro Acquire 1,036-Unit Multifamily In Manhattan, Bronx & Brooklyn For $36.5M

The Community Preservation Corporation, The Community Development Trust, Monadnock Development, Red Stone Equity Partners, and Black Developers Network Triboro have acquired a multifamily property in Manhattan, Bronx, and Brooklyn. The property was sold by Dunn Development Corp. for a price of $36,500,000. The property consists of 1,036 units, with an average price per unit of $35,231.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $36,500,000
• Units: 1,036
• Price Per Unit: $35,231

Rafael Cestero represents The Community Preservation Corporation, Joseph Reilly represents The Community Development Trust, Nick Lembo represents Monadnock Development, Eric McClelland represents Red Stone Equity Partners, and Kirk Goodrich and Richard Roberts represent Black Developers Network Triboro in the deal.