(Read more on the multifamily market.)
PIERMONT, NY-In the second significant multifamily property salethis month in Rockland County, the 106-unit Diplomat Gardenscomplex here has been sold for $13.3 million, valued at $123,148per unit and a cap rate of approximately 4%.
Earlier this month it was reported on globest.com that adiscretionary fund of AvalonBay Communities of Alexandria, VA hadacquired the Crystal Hill Club, a 168-unit luxury rental apartmentcomplex here from Ginsburg Development Corp. of Valhalla.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
