The Reel

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A blog for breaking sales and neighborhood real estate news.

A residential development site at 2065 Walton Avenue, located between East Burnside Avenue and West 181st Street in the Morris Heights neighborhood of the Bronx, was sold in an all-cash transaction valued at $1,150,000.

The site contains approximately 7,643 square feet on a 75.17’ x 100.95’ lot.  Zoned R8, it allows for the construction of approximately 46,011 square feet of residential space, and the sale price equates to approximately $25 per buildable square foot.

This site is conveniently located near the 4 subway line at East Burnside and Jerome Avenues.  It is within minutes of High Bridge, New York City’s oldest standing bridge.  New York City recently began a restoration of this pedestrian crossing between Highbridge and Washington Heights in Upper Manhattan.  The property is in proximity to Yankee Stadium as well.

“The property sold to a supportive housing developer,” said Massey Knakal’s David Simone, who exclusively handled this transaction.  “It is in an ideal location near public transportation and Burnside Avenue, a major retail shopping corridor,” he added.

Click here for press release

Neighborhoods: Morris Heights