Northeast

NEW YORK CITY — United Realty Trust has purchased Tilden Hall, located at 2520 Tilden Ave. in Brooklyn, for $22.9 million. The sales price equates to a value of $195,726 per unit, or $266 price per square foot, and includes a capitalization rate of 9.8 percent. The nine-story multifamily building includes 117 units and spans 86,000 square feet. Highland Park Development leases the property, which signs biyearly service agreements with the city and its Department of HomelessServices to provide transitional housing, counseling and rehabilitation programs for families in need. Greg Corbin and Amit Doshi of Besen & Associates completed the transaction.

PROVIDENCE, R.I. — Gaia Real Estate has acquired the 478-unit Winchester Park & Winchester Wood, one of the largest apartment complexes in Providence. The undisclosed price was approximately $115,000 per unit. The acquisition also includes 20 acres of land next to the complex in the neighborhood of Riverside in East Providence. Winchester Park & Winchester Wood includes 79 two-and three-story garden- and townhouse-style apartment buildings and one single-story clubhouse building. Gaia Property Management will manage the apartment community. Simon Butler and Biria St. John of CBRE/New England represented the seller and procured the buyer.

NEW YORK CITY — Cronheim Mortgage has secured $20.6 million in acquisition financing for an eight-building, 229-unit, multifamily portfolio located in the Manhattan neighborhoods of Washington Heights and Inwood. The funding was sourced from two banks, each of which financed four buildings for $10.6 million and $10 million on a nonrecourse basis. The combined facility provided 79 percent loan-to-cost financing for the $26 million multifamily purchase. The 10-year loans carry an average 4 percent fixed interest rate and features a 30-year amortization schedule. David Turley and Janet Proscia of Cronheim Mortgage secured the loans.