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A blog for breaking sales and neighborhood real estate news.

A mixed-use walk-up at 5753 Broadway, located on the southwest corner of Broadway and West 236th Street in Kingsbridge/Riverdale section of the North Bronx, was sold in a transaction valued at $1,200,000.

The three-story property is approximately 9,500 square feet and sits on a 41’ x 100’ lot.  The building features six one-bedroom apartments and six commercial spaces including Pauline’s, an owner occupied bar with cabaret license which will be delivered vacant. There is a large second floor commercial space perfect for professional or community use. The property is adjacent to the NYPD’s 50th Precinct, steps from the MTA #1 subway line, and within walking distance to Manhattan College and Van Cortlandt Park. The sale price equates to $126.32 per square foot.

 “This property traded at a projected 7.5 GRM and 8.3% cap rate,” said Massey Knakal Director of Sales Karl Brumback who exclusively handled this transaction. “Pauline’s is closing its doors after 41 years of operation – it’s a neighborhood institution and will be missed,” added Brumback.

Click here for press release

Neighborhoods: Riverdale, Kingsbridge/ Agents: Karl Brumback