tag:blogger.com,1999:blog-6850750806594927202.post5406657343701081871..comments2023-10-30T05:45:18.219-04:00Comments on Bronx News Network: Fire Rips Through Grand Concourse High-Rise; Many InjuredBronx News Networkhttp://www.blogger.com/profile/03022201181076163457noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6850750806594927202.post-87941220321948632502007-04-10T10:51:00.000-04:002007-04-10T10:51:00.000-04:00According to the Daily News article on this fire h...According to the Daily News article on this fire http://www.nydailynews.com/news/2007/04/09/2007-04-09_beastly_bronx_blaze.html , "City records show that the 270-unit building was bought in February for $28.3 million by investors Stephen Siegel, Andrew Goldberg and Jeffrey Goldberg." <BR/><BR/>These are the same investors of SG2 Properties that recently purchased a package of over 50 buildings for more than $77,000 per unit. I'm not sure if this recent purchase was part of that same package. In any case, it shows some of the risk still involved in the Bronx multifamily market, especially when paying more than $100,000/unit like in this case!<BR/><BR/>By the way, get a copy of the Daily News today and check out the Patrice O'Shaughnessy article in the Bronx Boro Section. She mentions the shrinking affordability forum and the general issue of stagnating wages and rising housing costs.Gregory Lobo Josthttps://www.blogger.com/profile/04107292816385400755noreply@blogger.com