Massey Knakal Sells Multi Family Building in Melrose
A walk-up apartment building at 597 Prospect Avenue, located between East 150th and 151st Streets in the Melrose neighborhood of the Bronx, was sold in an all cash transaction valued at $375,000.
The four-story property is approximately 4,670 square feet and sits on a 20’ x 100’ lot. The first and fourth floors each contains a three-bedroom apartment while floors two and three operate as an SRO and consist of eight tenants. The sale price equates to $80 per square foot.
“The purchaser will create a duplex using the ground floor and basement units for their personal use,” said Massey Knakal Director of Sales Nicholas Burns 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 4,200 transactions having a market value in excess of $15 billion.