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Jonathan Rose Cos. Acquires The Caroline Apartments In Inwood For $53 Million From RelatedCos
SOLD
$53,000,000
New York
See Similar DealsMultiFamily
Sold 06/05/2026
SOLD
Jonathan Rose Cos. Acquires The Caroline Apartments In Inwood For $53 Million From RelatedCos
60 West 23rd Street
See Similar DealsMultiFamily
Sold 06/05/2026
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$188,297.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$251,247.04
Annual Debt Service$3,014,964.47
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