H&S Portfolio | 29 Bulk Unsold Shares in 7 Co-op Buildings

Description:

RM Friedland is proud to present the H&S Portfolio: (29) bulk unsold sponsor-owned cooperative shares across seven modern, exceptionally well-maintained, elevatored co-op apartment buildings in the New York Metro area. RM Friedland has been retained on an exclusive basis by ownership to act as advisor and agent in arranging the sale of this package.

The portfolio is diversified across several of Westchester’s and the Bronx’s most desirable sub markets, with holdings in Northeast Yonkers, Riverdale, Port Chester, and New Rochelle. Each building is professionally managed, elegantly appointed, and strategically positioned in a densely populated corridor bordering New York City, with convenient access to multiple forms of public transportation, shopping, and area amenities.

Opportunities of this caliber are extremely rare in the region. There is currently an acute shortage of prime, high-quality multi-family assets for sale in the New York Metro area, and very few packages of this size and quality ever trade.

In total, the offering comprises (29) units of varying layouts spread over (7) exceptionally maintained large cooperative buildings. A breakdown of the tenants shows (1) rent-controlled tenancy and (28) rent-stabilized tenants. As sponsor owned units, upon vacancy, each of the units/shares can be sold on the open market with process ranging from $210-$350 per square foot offering significant value-add upside.

PORTFOLIO PROPERTIES:
• 377 Westchester Avenue, Port Chester, NY
• 629 Kappock Street, Riverdale, NY
• 30 Clinton Place, New Rochelle, NY
• 1101 Midland Avenue, Yonkers, NY
• 333 Bronx River Road, Yonkers, NY
• 555 Bronx River Road, Yonkers, NY
• 575 Bronx River Road, Yonkers, NY

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