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Featured Listing: Bronx Residential Portfolio

1/24/2013 9:26:54 AM/ Massey Knakal/ Listings

Massey Knakal Realty Services has been retained on an exclusive basis to sell five Bronx residential buildings, two in the Pelham Bay neighborhood and three in the Throggs Neck neighborhood. The buildings total approximately 17,370 square feet and have a combined asking price of $4,175,000.

Two properties are prime Pelham Bay three-story buildings located at 1346 Edwards Avenue and 1348 Edwards Avenue, between Latting Street and Waterbury Avenue.  Each contains approximately 3,465 feet and sits on a 25’ x 95’ lot.  Although legal three-family residences, each is currently built out as four residential units fully occupied with tenants on a month to month basis.  Built in 2000, each building benefits from a curb cut, backyard, and two rear balconies.  Individually metered for electric and gas service, these properties are ideal for an owner/user or investor.  The asking price for 1346 Edwards Avenue is $800,000. With a 421-A tax abatement which runs through June 30th, 2018 the asking price for 1348 Edwards Avenue is $825,000.

The three Throggs Neck residential buildings are located at 2903-2907 Schurz Avenue, between East Tremont and Hollywood Avenues. Constructed in 2005, each two-family building contains approximately 3,480 square feet on a 21.6’ x 104.74’ lot, providing a front yard and garage parking.  All utilities are individually metered and tenants are operating on a month to month basis, providing an ideal live plus income scenario for a purchaser.  Each building benefits from washer/dryers, balconies along the front of the properties, and basement storage space.  With a prime location directly across from the Long Island Sound featuring views of the water as well as the Throgs Neck and Whitestone Bridges, these buildings represent a rare opportunity for an owner / user.  The asking price for each building is $850,000.

For more information on this listing, contact Massey Knakal Director of Sales Nicholas Burns at 212.660.2500.

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