HFF CLOSES $34M SALE OF MULTIFAMILY COMMUNITY IN WHITE PLAINS

WHITE PLAINS, N.Y. — HFF has closed the sale of 25 Martine Avenue, a 12-story, 124-unit multifamily community in White Plains. HFF marketed the property on behalf of the seller, a joint venture between Korman Communities and an institutional partner. The DSF Group purchased the community for $34 million free of existing debt. Renovated in 2004, the property features studio, one- and two-bedroom units averaging 727 square feet each. Community amenities include a fitness center, residents lounge, internet café and a 159-space parking garage. Jose Cruz and Andrew Scandalios, senior managing directors, Kevin O’Hearn and Jeffrey Julien, managing directors, and Stephen Simonelli, associate director, of HFF represented the sellers.