Castellan Real Estate Partners pays $8M to POKO Partners for multifamily property in Mott Haven

Castellan Real Estate Partners is the new beneficial owner through an Article XI HDFC affordable housing structure. Castellan through the entity HP St. Ann’s Avenue Housing Development Fund paid POKO Partners’s Poko-St Anns L.P. $8.2 million for 278 St Anns Avenue, 282 St Anns Avenue, 510 East 139th Street, 518 East 139th Street, 227 St Anns Avenue, and others in Mott Haven. The deal closed on October 30, 2019, and was recorded on November 8, 2019. The transaction consists of 7 parcels, including one vacant lot and six residential buildings containing 80 residential units, two super’s units and four commercial spaces.
The sale price per unit is approximately $100,000.
The last time the property sold was December 15, 2004, for $4,431,009.

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