Goldman Sachs acquires 110-unit Bronxville community

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CBRE announced today the sale of Avalon Bronxville, a 110-unit Class A apartment community located adjacent to the Metro-North Train Station and within the prestigious village of Bronxville, NY.

The
CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, Travis
Langer and Stuart MacKenzie represented the seller, AvalonBay Communities, while
also procuring the buyer, a fund managed by Goldman Sachs Asset Management.

Built
in 1999 and renovated in 2012, Avalon Bronxville features a fully equipped fitness
center, resident lounge, concierge, covered parking, package lockers and
outdoor BBQ/picnic areas.

Bronxville,
NY is an idyllic village comprising only one square mile in lower Westchester
County just 15 miles north of New York City. The village boasts some of the top
public schools in the country and its downtown is home to more than 150 stores
and restaurants.

CBRE’s
Jeff Dunne said, “We are delighted to represent Avalon in the sale of this one-of-a-kind
asset. There was significant interest in the offering due to its location in
downtown Bronxville and adjacency to the train offering access to Midtown
Manhattan in 28 minutes. Lower Westchester County has high barriers-to-entry,
as it is highly site-constrained with strict zoning laws, making development of
new rental communities difficult.”

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