CBRE sells 229-unit Avalon Mamaroneck

Mamaroneck, NY CBRE’s New York Metro Institutional Sales team, led by Jeff Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer, negotiated the sale of Avalon Mamaroneck, a 229-unit class A multifamily community. CBRE represented the seller, AvalonBay Communities, while also procuring the buyer, a joint venture between Harbor Group International and Cantor Fitzgerald, L.P.

Avalon Mamaroneck was originally built in 1999 and fully renovated in 2018. Situated in Mamaroneck CBD, the property is within a 5-minute walk of the Mamaroneck Metro-North Train Station providing frequent service to Midtown Manhattan. The community features an outdoor courtyard with pool, firepits and BBQ gas grills, a fully equipped fitness center with studio, and a resident lounge.

Jeff Dunne, a vice chairman with CBRE, said, “There was significant interest in the asset due to its prime location in Mamaroneck with easy walkability to the train offering seamless 35-minute access to Manhattan. Mamaroneck also offers a top school system and great access to the Long Island Sound.”

CBRE’s Stuart MacKenzie said, “We’re delighted to represent AvalonBay in the sale of this generational asset. With limited competition, renters will continue to be drawn to Mamaroneck’s public school system, walkable downtown, and easy accessibility to Manhattan and the greater region.”