Bronx, NY Friedman Roth Realty Services has completed the sale of a four-building portfolio on the corner of East 189th and Arthur Ave. in the Belmont neighborhood.
The deal closed for $3.4 million. Richard Guarino partner at Friedman Roth Realty represented the buyer and seller.
The properties we not listed exclusively with any one broker, but the owners managed to gain a lot of action from the brokerage community and the local players because of the proximity to Fordham University and Italian restaurants.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,