The Reel

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A blog for breaking sales and neighborhood real estate news.

Massey Knakal Realty Services has sold a portion of the University Avenue Portfolio – a collection of four contiguous institutional buildings, one indoor parking garage and five adjacent parking / development lots, located in the Highbridge section of the West Bronx. The properties are located at 930, 950, 969-973, and 998 University Avenue. The portfolio sold for $10,850,000, which equates to approximately $73 per square foot for the existing multi-story structure.

Overlooking the Harlem River the building benefits from tremendous visibility along the Major Deegan Expressway and Harlem River Drive. This 142,030 sq. ft. building consists of approximately 50% office space and 50% warehouse space and benefits from indoor parking for approx 15 cars. The properties were owner occupied at the time of the sale and was delivered vacant. Six vacant residential development lots ranging in size from 2,700 to 16,625 Sq. Ft. and totaling 150,000 buildable Sq. Ft. are still available for purchase.

With direct access to the interstate highway system, the site benefits from convenient access to Manhattan, Westchester and New Jersey via the George Washington Bridge, along with multiple public transportation options.

“The site was home to the HW Wilson Company for almost a century,” said Director of Sales Nicholas Burns who exclusively handled this transaction with First Vice President of Sales David Simone.

“We are excited to make the building our new headquarters as well as our newest self-storage center,” said the buyer, Nick Sprayregen, President of Tuck-It-Away Associates, LP.

Click here for press release

Neighborhoods: Highbridge