Massey Knakal Sells Apartment Building In Morrisania
An apartment building at 1243 Webster Avenue, located between East 168th and East 169th Streetsin the Morrisania section of the Bronx, was sold in an all-cash transaction valued at $1,350,000.
The four-story walk-up building contains approximately 7,420 square feet and sits on a 26’ x 100’ lot. It consists of 16 residential units, of which eight are studios and eight are one-bedroom units. The building features a newer boiler and most of the units were delivered vacant. The sale price equates to approximately $182 per square foot.
“Buyers were attracted to this building due to the vacant units,” said Massey Knakal First Vice President of Sales David Simone, who exclusively handled this transaction.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.