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Fort Independence Street Apartments in Bronx Trades for $15 Million

River Rock Capital Purchases 83-Unit Complex
August 31, 2018
Investment firm River Rock Capital acquired an 83-unit apartment complex off of Fort Independence Street in the Bronx for $15 million, or approximately $180,000 per unit.

The Cedarhurst, New York-based company acquired the multifamily building from a private investor taking title as Ft Sheri Realty LLC. The private investor owned the complex for more than 30 years, according to CoStar data.

Originally built in 1927, the high-rise complex offers one-bedroom floorplans, with units averaging a size of 708 square feet, according to CoStar data.

Michael Fusco, Seth Glasser, Joseph Koidm, and Peter Von Der Ahe of Marcus & Millichap represented the seller in the deal. Scott Jacobs and Michael Stern of NY Standard Realty represented the buyer.

Please see CoStar COMPS #4485301 for more information on this transaction.
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