Updated Jun 8, 2026
Jonathan Rose Cos. Acquires The Caroline Apartments In Inwood For $53 Million From RelatedCos
60 West 23rd Street
$53,000,000
Units
126
Asset Type
MultiFamily
Closing
Jun 5, 2026
About this deal
AI
The property asset involved in this transaction is The Caroline Apartments, a 126-unit affordable housing building located at 60 West 23rd Street in Inwood, Upper Manhattan. The transaction was completed for a sale price of $53 million, resulting in a price per unit of $420,635.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $53,000,000
- Units: 126
- Price Per Unit: $420,635
- Buyer: Jonathan Rose - Jonathan Rose Cos.
- Seller: Jeff T. Blau - RelatedCos
- Market: Inwood, Upper Manhattan
This transaction involved key individuals, notably Jonathan Rose from Jonathan Rose Cos., the acquiring party, and Jeff T. Blau from RelatedCos, the selling party. Jonathan Rose Cos. has made a significant investment in affordable housing through this acquisition.
On the Map
$53,000,000
MultiFamily
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Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93