JLL Capital Markets announced that it has secured the sale of Halstead Tarrytown, a 300-unit multi-housing community located in Tarrytown, Westchester County, New York.
The JLL Suburban Tri-State Capital Markets represented the seller, The DSF Group and procured the unnamed buyer.
Westchester County continues to be a sought-after market with strong fundamentals, a highly educated workforce and proximity to New York City. Tarrytown, in particular, has seen consistent demand for quality housing, with the local multi-housing market maintaining high occupancy rates.
Built in 1998, Halstead Tarrytown consists of 11 two-story buildings offering a mix of one- and two-bedroom apartments. The community presents a significant value-add opportunity, with all units featuring original finishes prime for renovation.
“The sale of Halstead Tarrytown demonstrates the continued investor interest in well-located, value-add multi-housing assets in strong suburban markets. The property’s potential for unit renovations and future market-rate conversion make it an attractive investment in today’s market,” said Steve Simonelli, Senior Managing Director. “Westchester County remains one of the strongest rental markets in the country. The premiere location and upside of Halstead Tarrytown was a special combination that drew offers from many national investors.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
With over $5.0 billion invested in multifamily assets since our inception, offices in Boston and Washington D.C. and decades of deep-seated experience, The DSF Group strives to create unique, award-winning properties. We acquire well located multifamily properties near transportation hubs and then reposition the properties through the implementation of well thought out renovations, amenities and technology. From development and renovations through construction and asset management, financing and design, The DSF Group seeks to drive meaningful results in every project in which we invest.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
