InterVest Capital Partners & Prana Investments Acquire Bronx Package Deal For $60M

InterVest Capital Partners and Prana Investments have acquired a package deal in the Bronx for a total of $60,000,000. The portfolio consists of six properties located at 1065 Jerome Avenue, 1197 Grand Concourse, 1534 Selwyn Avenue, 2353-2357 Crotona Avenue, 2608 Creston Avenue, and 2543-2567 Decatur Avenue. Spanning a total of 497,824 square feet, the transaction is priced at approximately $121 per square foot. The seller in this deal was Taconic Investment Partners, while Cushman & Wakefield represented both the buyer and the seller as brokers, including Eric Roth, Adam Spies, Adam Doneger, Jonathan Squires, Tyler Signora, Joshua Neustadter, and Harry James.

Summary of transation details

• Property Type: Package Deal
• Transaction Amount: $60,000,000
• Address: 1065 Jerome Avenue, 1197 Grand Concourse, 1534 Selwyn Avenue, 2353-2357 Crotona Avenue, 2608 Creston Avenue, and 2543-2567 Decatur Avenue
• Market: Bronx
• Buyer: InterVest Capital Partners & Prana Investments
• Seller: Taconic Investment Partners
• Brokers: Eric Roth, Adam Spies, Adam Doneger, Jonathan Squires, Tyler Signora, Joshua Neustadter, and Harry James - Cushman & Wakefield
• Total Square Footage: 497,824
• Price Per Square Foot: $121

This transaction brings together InterVest Capital Partners, Prana Investments, and Taconic Investment Partners in a notable deal. The involvement of Cushman & Wakefield as the brokerage firm is instrumental in facilitating the successful completion of the transaction. This acquisition positions the buyers as significant investors in the Bronx real estate market and highlights the continued interest in the area.