Related Fund Sells Soundview Multifamily In Bronx For $13M
1050 Wheeler Avenue & 1085 Colgate Avenue
MultiFamily
90,000 SF
90,000 SF
+ 3
Summary
The property involved in the transaction is a multifamily asset located at 1050 Wheeler Avenue & 1085 Colgate Avenue in Soundview, Bronx. The sale took place on July 9, 2020. The property consists of 84 units, with a total square footage of 90,000. It was sold for $13,000,000, resulting in a price per square foot of $144 and a price per unit of $154,761. The capitalization rate for the transaction was 5.5%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,000,000
- Address: 1050 Wheeler Avenue & 1085 Colgate Avenue, Soundview, Bronx
- Date: 07/09/2020
- Market: Soundview, Bronx
- Units: 84
- Square Footage: 90,000
- Price per Square Foot: $144
- Price per Unit: $154,761
- Capitalization Rate: 5.5%
The seller of the property was Related Fund, represented by Daniel Parker, Paul Gillen, Anthony Ledesma, Kyle van Buitenen, and Allie Boyan from Hodges Ward Elliott.
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1050 Wheeler Avenue & 1085 Colgate Avenue
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