{"id":38687,"date":"2025-11-13T20:50:07","date_gmt":"2025-11-13T20:50:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/38687\/"},"modified":"2025-11-13T20:50:07","modified_gmt":"2025-11-13T20:50:07","slug":"starwood-sells-two-commercial-condo-units-in-south-bronx-for-94m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/38687\/","title":{"rendered":"Starwood Sells Two Commercial Condo Units in South Bronx for $94M \u2013 Commercial Observer"},"content":{"rendered":"

Starwood Capital Group<\/a> has offloaded two commercial condominium units in the South Bronx for a total of $93.9 million, according to city records<\/a> made public Wednesday.<\/p>\n

Starwood, through the entity 425 Westchester Fee Owner, sold the two units at 425 Westchester Avenue to EducationRE<\/a>, Inc., a Florida-based not-for-profit that was formed to assist under-resourced schools with development and financing solutions.<\/p>\n

SEE ALSO: Lerner Sells Multifamily Ground Lease in Miami-Dade for Major Discount<\/a><\/p>\n

Dan Schwaegler, a managing director in asset management at Starwood, signed the deal for the seller, while it was unclear who signed for the buyer, which used the entity ERE425.<\/p>\n

It\u2019s also unclear who brokered the deal. A spokesperson for Starwood did not immediately respond to a request for comment, while a spokesperson for EducationRE could not be reached for comment.<\/p>\n

Starwood has been involved with the property since 2022, when it provided investment capital to AB Capstone<\/a> to develop 425 Westchester Avenue, according to LoopNet<\/a>. The 10-story, 150,000-square-foot building at the corner of Westchester and Bergen avenues is anchored by Zeta Charter School<\/a> and the Jewish Child Care Association. Century Medical & Dental Center is also a tenant of the South Bronx building.<\/p>\n

EducationRE will be assisting in the development of Zeta Charter School\u2019s facility, according to a recent application with the New York City Economic Development Corporation.<\/p>\n

News of the deal comes just one week after Starwood provided a $161 million loan to refinance Arden Living\u2019s Forty Six Fifty multifamily property in Manhattan\u2019s Inwood neighborhood, as Commercial Observer previously reported<\/a>.<\/p>\n

Before that, Starwood gave a $64 million loan to Slate Property Group and Avenue Realty Capital to refinance the Welz, a 162-unit multifamily property that opened earlier this year in East Williamsburg, Brooklyn, CO reported<\/a>.<\/p>\n

Isabelle Durso can be reached at idurso@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Starwood Capital Group has offloaded two commercial condominium units in the South Bronx for a total of $93.9…\n","protected":false},"author":2,"featured_media":38688,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[128,3624,22584,22583,9,24,63,129,131,130],"class_list":{"0":"post-38687","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-the-bronx","8":"tag-bronx","9":"tag-channel","10":"tag-dan-schwaegler","11":"tag-investments-sales-425-westchester-avenue","12":"tag-new-york","13":"tag-new-york-city","14":"tag-nyc","15":"tag-the-bronx","16":"tag-the-bronx-headlines","17":"tag-the-bronx-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/38687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=38687"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/38687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/38688"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=38687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=38687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=38687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}