{"id":39768,"date":"2025-11-14T19:15:18","date_gmt":"2025-11-14T19:15:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/39768\/"},"modified":"2025-11-14T19:15:18","modified_gmt":"2025-11-14T19:15:18","slug":"starwood-sells-south-bronx-building-for-94m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/39768\/","title":{"rendered":"Starwood Sells South Bronx Building for $94M"},"content":{"rendered":"

Starwood Capital Group quietly sold a building in the South Bronx for nearly $100 million.<\/p>\n

The firm helmed by Barry Sternlicht sold two commercial condominium units at 425 Westchester Avenue to EducationRE for $93.9 million, according to city records reported<\/a> by the Commercial Observer. The buyer is a Florida-based not-for-profit that helps under-resourced schools with development and financing.<\/p>\n

The 10-story, 150,000-square-foot building counts Zeta Charter School and the Jewish Child Care Association among its anchor tenants. EducationRE is expected to help the charter school\u2019s development of a facility, according to an application with the New York City Economic Development Corporation.<\/p>\n

None of the players involved in the transaction commented to the outlet.<\/p>\n

Starwood partnered<\/a> with AB Capstone in 2019 on the mixed-use development, the former\u2019s first announced Opportunity Zone investment. AB Capstone acquired the vacant land and an adjacent parcel at 601 Bergen Avenue in 2017 for $7 million.<\/p>\n

Starwood reportedly provided investment capital for the development in 2022, according to LoopNet.<\/p>\n

Sternlicht\u2019s firm has been keeping busy in and around the Big Apple. Last week, Starwood handed a $161 million loan to Arden Living to refinance its Forty Six Fifty multifamily property in Manhattan\u2019s Inwood. It also lent $64 million to Slate Property Group and Avenue Realty Capital to refinance a 162-unit multifamily building in Brooklyn\u2019s East Williamsburg.<\/p>\n

And in August, Starwood lent $500 million<\/a> to Dune Real Estate Partners and Robert Martin Company to refinance the partnership\u2019s 42-asset industrial portfolio in New York\u2019s Westchester County, which spans 2.4 million square feet in the New York City-adjacent market.<\/p>\n

Elsewhere in the South Bronx, the Olnick Organization is looking to offload a large development site on a largely vacant patch of land on University Avenue between West 168th and West 170th streets in Highbridge. Olnick is seeking<\/a> approximately $60 million in a deal.<\/p>\n

The lot includes 10 vacant parcels spanning 170,000 square feet and the site could contain an 842,000-square-foot project.<\/p>\n

\u2014 Holden Walter-Warner<\/a><\/p>\n

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Starwood, AB Capstone developing mixed-use complex in South Bronx Opp Zone<\/p>\n

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Starwood provides $500M to refi Westchester industrial properties<\/p>\n

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Olnick lists South Bronx development site with 1M sf potential<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Starwood Capital Group quietly sold a building in the South Bronx for nearly $100 million. The firm helmed…\n","protected":false},"author":2,"featured_media":39769,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[128,9,24,63,23157,129,131,130],"class_list":["post-39768","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-bronx","tag-new-york","tag-new-york-city","tag-nyc","tag-starwood-south-bronx","tag-the-bronx","tag-the-bronx-headlines","tag-the-bronx-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/39768","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=39768"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/39768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/39769"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=39768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=39768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=39768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}