Portfolio - AMERICAS

2025 Seward Avenue, Bronx, NY - SOLD

Development Type: Multi-Family Apartment Building

This is an eight-story apartment building that was built in 1980. The building has 154 spacious apartments (685 rooms), 3 commercial spaces, 4 elevators, an 80-car parking lot, a playground, and is fire proof. Located in the north most region of the five boroughs in New York, the Bronx is the third most densely populated county in the USA. There is a huge demand for housing in this area, and this multi-family apartment building supplies that demand.

This 154 residential unit building, which we acquired in 2007, is the only Free Market building in the Castle Hill section of the Bronx. Construction has been planned to expand the building by 25 units. Occupancy is over 98%.

This project is a joint venture with Delshah Capital

Legacy Place Residence, Palm Beach Gardens, FL

Development Type: Bulk Acquisition of Condominium

Centrally located and beautifully appointed in the best part of Palm Beach Gardens, this property has easy access in walking distance to the adjacent Legacy Place Shops, the finest dining establishments such as Downtown at the Gardens (www.downtownatthegardens.com) and the renowned Gardens Mall (www.thegardensmall.com), many other great specialty stores, superlative golf courses, and endless other leisure activities. This by nature attracts upper class clientele with the immediate area average household income of approx. $77,000, with the 7 miles range of approx. $190,000.

Legacy Place offers one, two and three bedroom condominiums and town-homes for those who enjoy a community style residency, yet with good privacy and luxury. Some condominiums have garages and parking spots, and all have a balcony or patio, large walk-in closets, in-home laundry with washers and dryers, a handy built-in computer niche, and an alarm system for peace of mind. The open-design kitchens have natural wood cabinetry, and are fully equipped with top of the line appliances.

Bhansali Equities acquired 28 condos in Legacy Place at the end of 2008. BE was able to purchase these unsold condos from the developer at a discounted price and rent all units within a few months.

Wells Fargo, Gulf Freeway, Houston, Texas

Development Type: Commercial Building

The property is located on Interstate 45 South, and is strategically located in between the Houston Central Business District and the Clear Lake area. It sits just south of the Sam Houston Parkway on the west side of Interstate 45, between Scarsdale Boulevard and Dixie Farm Road.

The property is located on Interstate 45 South, and is strategically located in between the Houston Central Business District and the Clear Lake area. It sits just south of the Sam Houston Parkway on the west side of Interstate 45, between Scarsdale Boulevard and Dixie Farm Road.

The building was acquired in 2007. It is a Class B building with a Class A tenant, which is Wells Fargo. The property is under a NNN lease with Wells Fargo until December 31, 2012. The tenant is fully responsible for all operating responsibilities, maintenance, taxes and insurance. The total lot size is 2.83 acres with a built up area of 31,570 square feet. There is a parking facility of 87 spaces, including 8 covered spaces. Currently the property is income producing at a cap rate of 7.23%.

Setai NY, 40 Broad Street, Manhattan, New York

Development type: Luxury Condominium Development

The Setai NY is located on 40 Broad Street in Manhattan, just steps away from the New York Stock Exchange. It is the second Setai project in the US after Miami. The residential market in the area is emerging from an office location to a 24-hr kind of place. The Setai NY provides an oasis where all things are possible, from five-star dinning in your home to private film screenings to rooftop sunbathing to opulent spa services.

The Setai NY is a branded luxury condo development designed by Jean-Michel Gathy, and it was acquired in 2007. The building is 30 stories high with 155,000 square feet of residential space comprising of 167 units and 44,000 square feet of amenities, which include the Setai Spa and the Setai Club. The remaining 77,000 square feet is for Commercial use, which includes retail, offices and parking facilities. The units range from $685K to $6.75m.

Nosara Hills, Costa Rica

Development Type: Residential Development

Beautifully situated high above the Nosara beach community, Nosara Hills offers stunning ocean view Lots that are furnished with water and electricity, and ready for you to build your dream home. The village of Nosara can be found in the Nicoya Peninsula area of the Guancaste Province, which is on the Pacific Northwest coast of Costa Rica.

Tranquillity abounds in this beautiful area that is home to Howler monkeys, cats, exotic birds, and many other Costa Rica fauna. The rich diversity of Costa Ricas ecosystem is nowhere more prevalent than at Nosara Hills. Cool evening breezes provide a natural air conditioning system, while mesmerizing views of the ocean and incredible sunsets remind you of why you chose to be in Costa Rica. With magnificent extended views of the Pacific Ocean and the surrounding mountains, Nosara Hills provides you with the seclusion and privacy you desire, and at the same time are only minutes away from the restaurants, shopping and beaches of Nosara.

The development was acquired in 2006 and is headed by Wallace and Woerner LLC, with the plan of clearing and selling parcels of land for development of homes. The second stage is to use part of the land to develop a small condo building. The whole development will be a gated community giving privacy and security for all residents. The total land size is 100 acres.

Playa Pelada, Costa Rica

Development Type: Luxury Condominium Development

Going 5 Km south of Nosara, in between the Nosara and Pelada Points, cutting through the North point of Playa Guiones, comes the beautiful trees and tidal pools of Playa Pelada. A blowhole occurring on one of its rock formations provides a spectacular sight, especially during the transition of the tides. The thundering sound of the sea and its majestic power is an experience that you will never forget.

Playa Pelada was acquired in 2006. BE has invested with their local partner, Wallace and Woerner Custom Builders in a land plot that is now currently under development. The current plan is to develop 4 condo buildings and 2 swimming pools. Each building will house 8 condominiums, thus totaling to 32 units.