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AMS Acquisitions Acquires Apts in Bayonne

JV Sells 85 Units for $32.1M
February 27, 2018
AMS Acquisitions LLC, a New York-based real estate investment firm, acquired the 85-unit SilkLofts apartment building at 154 Avenue E in Bayonne, NJ for $31.1 million, or about $378,000 per unit, from Stern Capital and CSR Group.

Comprised of two five-story buildings, the 148,720-square-foot multifamily community offers a mix of studios, one- and two-bedroom units. The entire property underwent a complete gut renovation in 2013. The acquired property includes three undeveloped parking lot parcels as well, which AMS Acquisitions intends to develop into additional multifamily housing.

Steven Matovski of Redwood Realty represented the buyer. The sellers handled the sale in-house.

See CoStar COMPS #4116223 for more information on this transaction.
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