Doshi and Torres of Besen secure $4.5 million of four-building multifamily portfolio

Bronx, NY Besen & Associates arranged the sale of a four-building multifamily portfolio including 723 Oakland Place, 2078 Vyse Ave., 2408 Webster Ave. and 2420 Webster Ave. Besen & Associates exclusively represented the seller, Prana Investments, and also procured the purchaser. The 36,918 s/f portfolio consists of four walk-up apartment buildings containing 34 apartments and 177 rooms. The transaction was completed for $4.5 million by Amit Doshi and Richard Torres of Besen & Associates, who represented both parties. 723 Oakland Place, also known as 2065 Clinton Ave., is a four-story, 8,265 s/f walk-up apartment building containing eight apartments. It was constructed in 1931, and is built on a 23’ x 100’ lot. 2078 Vyse Ave. is a four-story, 10,080 s/f walk-up apartment building containing nine apartments. It was constructed in 1909, and is built on a 35’ x 113.42’ lot. 2408 Webster Ave. is a 9,240 s/f four-story building containing eight  apartments. It was built in 1909, and is built on a 33.25’ x103.5’ lot. 2420 Webster Ave. is a four-story 9,333 s/f walk-up building containing 8 apartments. The sale price equates to $146,764 per unit and $120 per s/f. “Through our marketing efforts, we were able to identify the right buyer who saw value-add potential in these smaller properties.  We were subsequently able to achieve one of the highest price per unit and price per square foot for multifamily of ten units and under,” stated Richard Torres of Besen.