Wavecrest Equities recently acquired a portfolio of five buildings in the Little Italy neighborhood of the Bronx for $28 million. The Belmont-Venezia Apartments include 180 apartments and two commercial spaces across 160,537 square feet. Wavecrest assumed two existing loans on the properties totaling $20 million, facilitated by Rosewood Realty Group’s Ben Khakshoor and Alex Fuchs who represented both buyer and seller. The sale was completed at a cap rate of 5.85 percent with a price per square foot of $174 and price per unit at $156,000.
Canadian Tariffs Seen Worsening Multifamily Supply Crunch, Phoenix Developer Says
Upcoming U.S. tariffs on certain Canadian imports are poised to add new cost and planning risks for multifamily builders, particularly
Steve Griffin
August 15, 2026
