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Bronx Apartments Will Return to Rent Stabilization Post-Sale

Stellar Management completed the sale of 1133 Ogden Ave., also known as Highbridge House, to Camber Property Group and Belveron Partners. The 26-story Bronx apartment tower in the Bronx’s Highbridge neighborhood traded for $76.25 million.

Built in 1947, Highbridge House has undergone extensive building-wide improvements since Stellar acquired it for $19 million in 2006. Along with renovations to individual apartments, there was an extensive façade and terrace maintenance program, a new lobby, upgrades to common areas and hallways and replacement of the roof and windows.

Camber and Belveron reportedly plan to return its 400 units to New York State’s Mitchell-Lama rent stabilization program, having partnered on a similar deal of comparable size in the Bronx this past January.

Aaron Jungreis of Rosewood Realty Group brokered the deal for both the buyers and the seller.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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