Hope Center Realty Acquires Multifamily Asset In High Bridge, Bronx For $19.5M

Located in the High Bridge neighborhood of the Bronx, the multifamily property at 1400, 1401, and 1407 University Ave has been sold in a closed transaction. The property consists of three buildings, with a total square footage of 32,000 for 1400 University Ave, 17,200 for 1407 University Ave, and 18,418 for 1400 University Ave. The transaction price for this deal was $19,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,500,000
• Address: 1400, 1401, 1407 University Ave
• Market: High Bridge, Bronx
• Square Footage: 32,000 (1400 University Ave), 17,200 (1407 University Ave), 18,418 (1400 University Ave)

The buyer in this transaction was Hope Center Realty Operations Associates, represented by Daryl Hagler. The seller was Brightpoint Care, represented by Evan S. Zuckerman. Additionally, M&T Bank provided a $12.632 million loan for this transaction.