CASA PASIVA HOUSING DEVELOPMENT FUND CORPORATION paid $7M to 104-110 GROVE STREET HOUSING DEVELOPMENT FUND CORP

CASA PASIVA HOUSING DEVELOPMENT FUND CORPORATION paid 104-110 GROVE STREET HOUSING DEVELOPMENT FUND CORP $7.0 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 46 residential units at 108 Grove Street, 110 Grove Street in Bushwick. The deal closed on June 20, 2019 and was recorded on July 15, 2019. The parcel(s) have total development potential of 41,048 square feet.
The sale price per unit is $151,210..
The estimated cap rate is 2.3%

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $1,196,250.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link