Hodges Ward Elliott arranged the $88 million sale of a pair of multifamily buildings in the Castle Hill section of the Bronx to buyer Abraham Fruchthandler.
Fruchthandler’s FBE Limited bought the 10-story buildings at 2001-2045 Story Avenue from the Related Fund Management, the asset-management arm of the Related Companies.
The buildings, which are free market and located on one lot, span roughly 400,000 square feet and include 355 units.
A Hodges Ward Elliott team of Daniel Parker, Paul Gillen and Ariel Tambor brokered the sale.
The two buildings, which are completely free-market and located on one lot represent the largest single-asset sale in the Bronx in more than six years.
HWE has brokered several other transactions in the Bronx over the last couple of years, including the sale of a portfolio of 12 buildings on behalf of Related to Taconic Investment Partners and Clarion Partners.
