Massey Knakal Sells Walk-Up Building In Fordham
A walk-up apartment building at 415 East 187th Street, located between Park and Webster Avenues in the Fordham section of the Bronx, was sold in an all-cash transaction valued at $800,000.
The four-story building is approximately 8,800 square feet and sits on a 22.25’ x 100’ lot. There are eight residential units consisting of two one-bedroom units and six two-bedroom units. There is also a super’s unit in the basement. This building was extensively renovated in 2005 with a new boiler, electric and gas meters, a new roof and cameras throughout. The building is ideally located within close proximity to Webster Avenue, Fordham University and a short walk to public transportation. The sale price equates to $100,000 per unit and a 7.1 times gross rent.
“The building is in great shape with improvements you normally don’t see in a property of this size,” said Massey Knakal Director of Sales Karl Brumback who exclusively represented the seller with First Vice President of Sales Al Holloman.
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.