Rosewood Realty Group announced the $14.4 million sale of a multifamily complex of three, 3-story buildings on 4.6 acres in Croton-On-Hudson in Westchester County.
The buyer, Unppg Management LLC, a NY- based private owner-operator of a multifamily and healthcare portfolio, assumed a $11.2 million Fannie Mae loan with a 3.76% interest rate on the 82-unit rental property, Bari Manor Apartments.
Together, the three rent-stabilized buildings, at 31 Old Post Road, span 114,711 square feet and feature one and two-bedroom units. It was built in 1963.
Rosewood Realty Group’s Aaron Jungreis and Joe Brecher of Gebroe Hammer Associates represented the seller, View Living.
Rosewood’s Alan Soclof and Michael Schattner represented the buyer, Unppg Management LLC.
“Despite current market conditions, we are pleased to close this transaction,” said Soclof. “The property is located approximately 40 miles out of NYC in an affluent suburb with a median household income of $ 148,000 within a one mile radius of the property.”
“This shows there is still substantial interest in the New York real estate market,” said Jungreis. “There were multiple bidders at the asking price and this proves for stable housing there are always aggressive purchasers.”
