A mixed-use building at 984 Prospect Avenue, located in Morrisania in the Bronx, sold in an all cash transaction valued at $815,000.
The four-story walk-up building is approximately 14,135 square feet and sits on a 37' x 85' lot. The building features seventeen units containing fifteen residential units and two commercial units. The residential units are all rent-stabilized and are comprised of three studios, nine one-bedrooms and three two-bedrooms. The commercial units are occupied by a funeral parlor and a florist. Five of the residential units are vacant and all require renovation. However, below market rents offer immediate upside potential.
"The purchaser was a local investor who is very active in the neighborhood," said Massey Knakal Director of Sales Nick Burns who exclusively handled this transaction with Director of Sales Karl Brumback.
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Neighborhoods: Morrisania/ Agents: Karl Brumback