New York, NY Ryan Zar and Edwin Shirazian of R.E Property Group have closed on the sale of 2078 Vyse Ave., 2408 and 2420 Webster Ave. for $3.46 million. All three of the properties are four-story walk-ups, totaling 25 three and four bedroom apartments with an average unit size of 975 s/f. “I believe that the area around Fordham University is turning more into a college town. Our niche is targeting the 15,000 student population due to the short supply of student housing in the area,” said Shirazian. The University sits on a 93-acre campus size which is steps away from big box retailers such as TJ MAXX, Chase Bank, Best Buy and popular eateries such as Chipotle, Applebee’s and Starbucks. “We intend to capitalize on the opportunity to reposition the assets through diligent management, reconfigure and develop the residential units to maximize each apartments rent, while collecting a very solid return at the same time. Between the under-market rents of the stabilized units alongside the area and market appreciating at a rapid pace, there are multiple strategies by which we stand to profit,” said Zar. Tags: