Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

317 Unit Bronx Portfolio For Sale By Massey Knakal

05/30/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell a six building, 317
unit portfolio. The buildings are locating throughout the Mount Eden, Concourse, and Morrisania
neighborhoods in the Bronx. The buildings are located at 1685 Selwyn Avenue, 1254 Sherman
Avenue, 1231 Fulton Avenue, 615 East 168th Street, 1340 Merriam Avenue and 818 East 149th
Street. The asking price for the portfolio is $25,000,000.

The portfolio consists of four walk-up buildings and two elevator buildings containing 303
residential units and 14 commercial units, over a combined 307,400 square feet. Out of the 303
residential units, there are 24 studio units, 178 one-bedroom units, 79 two-bedroom units and 22
three-bedroom units. The majority of the properties have undergone major capital improvement
plans through the term of ownership. This package offers tremendous upside potential on the
residential portion and stable revenue streams from the existing commercial tenants.

For more information on this listing, contact Massey Knakal First Vice President of Sales David
Simone or Director of Sales Nicholas Burns at 212.696.2500.

Massey Knakal specializes in the sale of investment and user properties in the New York
Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market
value in excess of $15 billion.

www.masseyknakal.com

05/30/2012 - 14:50

Source

Cushman & Wakefield Capital Markets Group New York

Want more news about Cushman & Wakefield Capital Markets Group New York? Click here