(Read more on the multifamily market.)
NEW YORK CITY-Eric Oppenheimer, a Bronx private investor, sellsa 14-building portfolio in the South Bronx to Sharp Management, aBronx-based syndicate, for $18.2 million. The properties, locatedalong the 138th Street corridor in the Bronx, include sevenmixed-use assets, four multifamily properties, one single-familyhome, one duplex and one retail asset measuring 5,000 sf.
Encino, CA-based Marcus & Millichap Real Estate InvestmentServices represented the seller in the transaction. "The newownership plans to maintain these properties and make significantcapital improvements" says Kevin Salmon, a senior associate, whoworked with investment specialist Sharone Sohayegh in the Marcus& Millichap Manhattan office on the deal. "The upgrades willallow the new owners to increase the rental income stream generatedby these assets."
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