Gilbane buys Bronx affordable housing portfolio for $107M – Robert Khodadadian

, Gilbane buys Bronx affordable housing portfolio for $107M – Robert Khodadadian, Robert Khodadadian

Gilbane Development Company is expanding its affordable housing portfolio in the Bronx. A joint venture of Gilbane, Systima Capital Management, ELH Management and TerreAlto acquired four Section 8 projects and a development site in the Bronx for $107.5 million from Joel Gluck’s Spencer Equity. Crain’s was first to report the sale. The four buildings consist of 477 units across more than 551,000 square feet at 280 East 161st Street in Morrisania, 2363 Southern Boulevard in

 Gilbane Development Company is expanding its affordable housing portfolio in the Bronx. A joint venture of Gilbane, Systima Capital Management, ELH Management and TerreAlto acquired four Section 8 projects and a development site in the Bronx for $107.5 million from Joel Gluck’s Spencer Equity. Crain’s was first to report the sale. The four buildings consist of 477 units across more than 551,000 square feet at 280 East 161st Street in Morrisania, 2363 Southern Boulevard in
The post Gilbane buys Bronx affordable housing portfolio for $107M appeared first on New York.  Commercial Real Estate, Home Page, Affordable Housing, Bronx, Investment Sales, Multifamily Market The Real Deal New York 

Lead by real estate veteran Robert Khodadadian, has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

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See also  Meta Housing Breaks Ground on LA Affordable Housing Project on October 27, 2022 at 5:56 pm Connect CRE – Robert Khodadadian

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