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Yechiel Newhouse Acquires Multifamily Property In Soundview For $24.4M

1240 Morrison Avenue
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This MultiFamily property located in NY was sold for $24,412,000 almost 3 years ago. The brokers of the deal were Alex Fuchs, Ben Khakshoor, and Aaron Jungreis

The multifamily property located at 1240 Morrison Ave. in Soundview, Bronx, was recently sold for a price of $24,412,000. The transaction took place on April 27, 2021. The property consists of 154 units, with an average price per unit of $158,441. The total square footage of the property is 147,600, leading to a price per square foot of $165. The property has a capitalization rate of 6.5%.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $24,412,000
  • Units: 154
  • Price per Unit: $158,441
  • Square Footage: 147,600
  • Price per Square Foot: $165
  • Capitalization Rate: 6.5%

The buyer of the property is Yechiel Newhouse. The seller is Stellar Management. The deal was facilitated by the brokers Aaron Jungreis, Ben Khakshoor, and Alex Fuchs of Rosewood Realty Group.

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Deals
  • Location
    1240 Morrison Ave, Park Versailles, Bronx, NY, USA1240 Morrison Ave, Park Versailles, Bronx, NY, USA
  • Sale Price
    $24,412,000$24,412,000
    $165 PPSF$165 PPSF
  • Area
    147,600 SF147,600 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Alex Fuchs

Alex Fuchs

Deals47
Sold$692.7M

Agency

Rosewood Realty Group

Rosewood Realty Group

Agency
Deals370
Volume$6.5B

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Deal Summary

SALE IMAGE: Ben Khakshoor, Adam Roman, Aaron Jungreis, Laurence Gluck, Alex Fuchs DATE: 04/27/2021 ADDRESS: 1240 Morrison Ave. MARKET: Soundview, Bronx ASSET TYPE: Multifamily BUYER: Yechiel Newhouse SELLER: @StellarManagement BROKER: Aaron Jungreis, Ben Khakshoor, Alex Fuchs - Rosewood Realty Group (@RosewoodRG) SALE PRICE: $24,412,000 UNITS: 154 ~ PPU: $158,441 SF: 147,600 ~ PPSF: $165 CAP: 6.5%

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1240 Morrison Avenue

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