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A blog for breaking sales and neighborhood real estate news.

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.

Click here for press release.

Neighborhoods: Morrisania/ Agents: Karl Brumback