Traub and Benyacov of Westbridge Realty broker $23.8 million sale

March 05, 2019 - Front Section
Adam Traub,
Westbridge Realty Group

 

Ariel Benyacov,
Westbridge Realty Group

 

Bronx, NY According to Westbridge Realty Group, The Lightstone Group, a privately-held real estate investment company, has purchased a six-story elevator mixed-use building in the Concourse neighborhood for $23.8 million. The sale price equates to $181,679 per unit; 15 times the current rent roll, at a 3.5% cap rate.

The 135,202 s/f building, built in 1927, is known as Sheridan Court Mews at 201 E 164th St. It features 129 rental apartments, a super’s unit and one commercial space. Westbridge’s Adam Traub and Ariel Benyacov represented the buyer and seller, Sheridan Court Mews Associates L.P. (Philip Schorr.)

Comments

Add Comment


More from the New York Real Estate Journal