Massey Knakal Sells Retail Building In Crotona Park
A retail building at 1289 Louis Nine Boulevard, located at the intersection of Southern Boulevard, Freeman Street, and Louis Nine Boulevard in the Crotona Park neighborhood of the Bronx, was sold in an all-cash transaction valued at $1,550,000.
The single-story building contains approximately 12,400 square feet, a full basement and features over 100 feet of frontage on Louis Nine Boulevard. The property was delivered vacant and is currently zoned C1-4 / R7-1. The sale price equates to approximately $125 per square foot.
This property benefits from tremendous visibility and high vehicular and foot traffic. Located at the foot of the #2 and #5 subway station at Freeman Street, both the east and west sides of Manhattan are easily accessible.
“The property required a significant amount of renovation but its location and retail frontage represented an ideal scenario for the buyer, who will occupy the building for their own retail business,” said Massey Knakal Director of Sales Nick 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 4,500 transactions having a market value in excess of $17 billion.