3605 Sedgwick Avenue
Chestnut Holdings has paid $22 million for a trio of residential buildings in the Bronx, according to city records filed today.
The deal for the properties in the Jerome Park neighborhood closed March 4. The acquisition includes 3605 Sedgwick Avenue, a 153,952-square-foot building with 116 units; 3470 Cannon Place, a 65,000-square-foot building with 55 units; and 3451 Giles Place, a 71,000-square-foot building with 64 units, according to PropertyShark.
The seller was identified in city records as the Brooklyn, N.Y.-based Van Cortlandt Village LLC.
Representatives from Chestnut and the seller were not immediately available for comment. Chestnut has been amassing a vast portfolio of over 60 properties in the Bronx, but has come under fire from tenants for alleged mismanagement and a series of rent and fee hikes.
Chestnut’s chief executive Jonathan Wiener was recently ranked No. 20 out of 106 of the Bronx’s “worst landlords,” by Public Advocate Bill de Blasio’s office, based on building violations at its 2201 Jerome Avenue property, as previously reported.
A representative for Chestnut was not immediately available for comment.
