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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 1800 Westchester Avenue (aka 1254-1256 Beach Avenue), located on the corner of Westchester and Beach Avenues in the Soundview neighborhood of the Bronx, was sold in an all cash transaction valued at $1,000,000.

The three-story property is approximately 6,750 square feet and sits on a 25’ x 92’ lot.  The building consists of four residential apartments and two ground floor commercial units.  The residential segment is made up of two two-bedroom units and two four-bedroom units. The commercial segment consists of two units, a salon and a restaurant/bar, each with long-term leases. The sale price equates to approximately $148 per square foot.

“This is the first sale of this property in 35 years. The building is fully occupied, is in fair condition, and traded at a capitalization rate of 8.6%,” said Massey Knakal Director of Sales Nicholas Burns who exclusively handled this transaction.

Click here for press release

Neighborhoods: Soundview