Treetop Development sells Elmhurst rental complex for $57M Company sold 164-unit development on 56th Avenue to Zara Realty
94-26 56th Avenue in Queens and Adam Mermelstein
UPDATED, 1:55 p.m. April 13: Tr爱上海同城 eetop Development has sold its Elmhurst apartment complex to Zara Realty for $56.5 million, according to property records.
The property at 94-26 56th Avenue is a 164-unit rental complex with three commercial units. Treetop purchased it in 2016 for $40.7 million from Mydac Realty Corp, which had owned the building since 1986. Most of the apartments are rent-stabilized.
Rosewood Realty Group president Aaron Jungreis brokered the deal for both sides but declined to comment on 上海贵族宝贝交流区 the sale. Treetop did not immediately respond to a request for comment.
Treetop is also working on an 11- and 14-story building in the South Bronx, and the company purchased a four-building rental complex at 711 Seagirt Avenue in Far Rockaway for $135 million late last year.
This story has been updated to include information from阿爱上海同城 Zara Realty.
Tags: Commercial Real Estate, elmhurst, treetop development, zara
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