Bronx, NY David Simone of Concourse Realty Partners arranged the sale of 200 East 167th St. in the Bronx for $7 million. The 13,000 s/f building consists of 5 commercial spaces and sold for a 5.5% cap rate.
Concourse Realty’s company broker and owner, David Simone was the sole broker for this transaction.

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,