Barberry Rose Management has sold a portfolio of rent-stabilized apartment units mostly in Manhattan’s Inwood neighborhood — but at a price well below what the multifamily owner paid in 2016.
The 16 properties sold to Coney Realty for $47M, a 44% discount from the $83.6M price that Barberry Rose paid for the portfolio in 2016, The Real Deal reported.
“That’s just a reflection of where the market is,” Cignature Realty’s Lazer Sternhell, who brokered the deal for both Coney Realty and Barberry Rose along with Peter Vanderpool, told The Real Deal.
The portfolio is composed of 12 buildings on opposite ends of the same…