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The Community Preservation Corporation, The Community Development Trust, Monadnock Development, Red Stone Equity Partners & The Black Developers Network Triboro Acquire NYC LIHTC Portfolio Multifamily For $36.5M

Ariel Property Advisors brokers deal for $36,500,000 in New York City
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This MultiFamily property located in NY was sold for $36,500,000 about 2 years ago. The brokers of the deal were Victor Sozio and Shimon Shkury

The recent sale in the NYC LIHTC Portfolio involved a multifamily property spanning across Brooklyn, Bronx, and Manhattan. The sale was facilitated by Victor Sozio and Shimon Shkury of Ariel Property Advisors on behalf of the seller, Dunn Development Corp. - Martin Dunn. The Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development, Red Stone Equity Partners, and The Black Developers Network Triboro emerged as the buyers in this transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $36,500,000 (Partial Interest)
  • Units: 1,036
  • Square Footage: 1,074,191
  • Address: NYC LIHTC Portfolio
  • Market: Brooklyn, Bronx, Manhattan

Additional key individuals and companies involved in the deal include The Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development, Red Stone Equity Partners, and The Black Developers Network Triboro as buyers. Victor Sozio and Shimon Shkury of Ariel Property Advisors served as the brokers representing the parties involved in the transaction.

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Deals
  • Location
    Brooklyn, New York, United StatesBrooklyn, New York, United States
  • Sale Price
    $36,500,000$36,500,000
    $34 PPSF$34 PPSF
  • Area
    1,074,191 SF1,074,191 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Victor Sozio

Victor Sozio

Deals80
Financed$1.8B

Agency

Ariel Property Advisors

Ariel Property Advisors

Agency
Deals456
Volume$7B

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Deal Summary

SALE IMAGE: Victor Sozio & Shimon Shkury DATE: 01/10/2022 ADDRESS: NYC LIHTC Portfolio MARKET: Brooklyn, Bronx, Manhattan ASSET TYPE: Multifamily BUYER: The Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development, Red Stone Equity Partners & The Black Developers Network Triboro SELLER: Dunn Development Corp. - Martin Dunn BROKERS: Victor Sozio & Shimon Shkury - Ariel Property Advisors (@ArielPA.NYC) SALE PRICE: $36,500,000 (Partial Interest) UNITS: 1,036 ~ SF: 1,074,191

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Ariel Property Advisors brokers deal for $36,500,000 in New York City

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