Saved! 10 Distressed Buildings Trade for $22.25 M.

Ten distressed apartment buildings in the Bronx and upper Manhattan have sold for $22.25 million.

Amit Doshi of Besen & Associates closed the sale of the mostly walk-up buildings, which contain 239 apartments and 25 stores. The price-per-square-foot was $105. The average rent per apartment for the entire portfolio is $990 a month ($238 per room). 

“The properties were marketed for less than a month,” said the release, “with a closing period of 45 days (time being of the essence).”

Recently, Mr. Doshi also negotiated the $24.85 million sale of three apartment buildings in the Highbridge section of the Bronx. The price-per-square-foot was $103.

The buildings in the most recent transaction are located at 2100-2102 Amsterdam Avenue, 646-50 West 160th Street, 2009-2011 Amsterdam Avenue, 1619-1623 Amsterdam Avenue, 1625-1635 Amsterdam Avenue, 1461 Amsterdam Avenue, 615-617 West 152nd Street, 83-87 Audubon Avenue, 554 East 149th Street, 1911-1915 Southern Boulevard, and 265 East 176th Street.

Mark Mandell of Mandell, Mandell, Okin and Edelman also represented the seller as attorney, and Michael Papagianopolous of Karabelas & Papagianopolous represented the buyer.

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