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Acquisitions

Taconic Investment Partners acquires two Bronx rental buildings

City Skyline Realty is the seller

1534 Selwyn Avenue (Credit: CoStar)

Taconic Investment Partners and Clarion Partners have acquired 1534 Selwyn Avenue and 1197 Grand Concourse from City Skyline Realty for $27.8 million. The two multi-family properties span a total of 139,900 square feet, and contain 131 rent-stabilized apartments. 

Acquisition financing: The partnership secured a $17 million loan from Sterling National Bank to close the deal. The properties are located in the Grand Concourse section of the Bronx.

Sound Smart: The duo paid $71 million for a 12-property portfolio spread throughout the borough in January, and already own a 1,416-unit housing complex in Eastchester Heights.

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