Northeast

Trantor Place

Property Overview

CLP acquired Trantor Place, a rent-stabilized garden apartment complex comprised of 16 low-rise apartment buildings and 177 units.Located in the Port Richmond neighborhood of Staten Island, NY, the complex is surrounded by landscaped grounds, abundant parking, and easy access to major highways and public transportation.

CLP pursued the transaction through off- market relationships and was able to present a non-refundable offer immediately when the seller initiated the marketing process.  CLP acquired Trantor Place for $60,000/unit, representing a 5.4x Gross Rent Multiple, significantly below average market transactions.

CLP successfully sold Trantor Place in January 2015.


Gallery

Photo of Trantor Place

Property Details

Acquisition Date January, 2011

Disposition Date January, 2015

Address 150, 165, and 220 Trantor Place
Staten Island, NY 10302

Number Of Units 177