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Related Fund Management Sells Bronx Multifamily To FBE Ltd. For $87.9M

2001-2045 Story Avenue
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This MultiFamily property located in NY was sold for $87,900,000 almost 5 years ago. The brokers of the deal were Paul Gillen, Daniel Parker, Kyle Van Buitenen, and Ariel Tambor

An multifamily property located at 2001-2045 Story Ave in the Bronx has been sold for a total price of $87,900,000. The property consists of 355 units and has a total square footage of 421,833. The price per square foot for this transaction was $208, and the price per unit was $247,605. This sale marks the largest single asset transaction in the Bronx since 2016, with a price of $248K per door.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $87,900,000
  • Address: 2001-2045 Story Ave
  • Market: Bronx

The seller of the property was Related Fund Management, while the buyer was FBE Ltd., represented by Abe Fruchthandler. Hodges Ward Elliott facilitated the transaction, with brokers Daniel Parker, Paul Gillen, Ariel Tambor, and Kyle Van Buitenen representing both the buyer and the seller.

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Deals
  • Location
    2001 Story Ave, Bronx, NY, USA2001 Story Ave, Bronx, NY, USA
  • Sale Price
    $87,900,000$87,900,000
    $208 PPSF$208 PPSF
  • Area
    421,833 SF421,833 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Kyle Van Buitenen

Kyle Van Buitenen

Deals4
Sold$443.2M

Daniel Parker

Daniel Parker

Deals18
Sold$1.9B

Agencies

Hodges Ward Elliott

Hodges Ward Elliott

Agency
Deals68
Volume$5.8B

DH Property Holdings

DH Property Holdings

Agency
Deals4
Volume$317.2M

Social

Deal Summary

SALE IMAGE: Daniel Parker, Paul Gillen, Stephen Ross, @Ariel.Tambor, Kyle Van Buitenen DATE: 04/09/2019 ADDRESS: 2001-2045 Story Ave MARKET: Bronx ASSET TYPE: Multifamily SELLER: Related Fund Management BUYER: FBE Ltd. - Abe Fruchthandler BROKER: Daniel Parker, Paul Gillen, Ariel Tambor, Kyle Van Buitenen - Hodges Ward Elliott SALE PRICE: $87,900,000 SF: 421,833 ~ PPSF: $208 PPU: $247,605 UNITS: 355 NOTE: $248K/door. Largest Single Asset Bronx Transaction since 2016.

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2001-2045 Story Avenue

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