$11.9M Sale Of St. George Apartments On Belmont Place & Daniel Low Terrace

The property involved in the transaction is a 120,000 square foot asset located at 100 Belmont Place in Staten Island, New York. The sale, which took place on July 28, 2020, saw the property being purchased for $11.9 million. Situated in the St. George section of Staten Island, the property consists of two six-story elevator apartment buildings on a single lot. It comprises 112 apartments, including 76 one-bedroom units, 24 two-bedroom units, and twelve three-bedroom units. Additionally, the asset features 47 parking spaces, catering to the residents' parking needs.

Summary of transaction details:

• Property Type: Single Family Residence
• Transaction Amount: $11,900,000.00
• Address: 100 Belmont Pl, Staten Island, NY
• Market: Staten Island
• Seller's Representative: Robert Fitzsimmons (Gateway Arms Realty)
• Buyer: Unknown

The sale transaction was spearheaded by GFI Realty Services, with Senior Managing Director Matthew Sparks leading the team representing the buyer. Local investors were behind both the selling and buying of the property, indicating a keen interest from within the community in real estate investment opportunities. Robert Fitzsimmons, from Gateway Arms Realty, represented the seller in the deal. The buyer's vision for the property post-acquisition revolves around creating and maintaining affordable housing options, aligning with the local housing market's needs.