NewCo Portfolio

Melrose, Bronx, New York 10455

$25,750,000  

Listing ID Number

25686

Property Description

Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of The NewCo Portfolio. The portfolio is comprised of four vacant, new construction apartment buildings across the Longwood, Woodstock, and Williamsbridge neighborhoods of the Bronx. In total, the portfolio consists of 89 residential units and approximately 73,185 gross square feet.

764 East 152nd Street is the southernmost property in the portfolio and is located in the Woodstock neighborhood in The Bronx. Residents of the 24-unit elevator building will be within walking distance to The Hub, which is considered the retail, theater and restaurant heart of the South Bronx. This building is one block from the Jackson Avenue subway station and offers residents a 30 minute commute to Midtown Manhattan.

915 Dawson Street and 1081 Tiffany Street are both located in the Longwood neighborhood of The Bronx and are within walking distance of 764 East 152nd Street. Residents of the properties will benefit from the buildings proximity to the Westchester Avenue retail corridor which features national retail tenants that include Rite Aid, Dollar Tree, Dunkin Donuts, and McDonalds. Both properties are within close proximity to the 2 & 5 trains located at the Simpson Avenue and Intervale Avenue MTA stations.

770 East 214th Street is situated in the Williamsbridge neighborhood of the North Bronx. The 10-unit walk-up building will offer residents easy access to the Gun Hill Road Subway Station and the Williams Bridge Metro North Station as both are within walking distance of the property. Residents will also benefit from the White Plains Road retail corridor which features tenants such as Dollar Tree, Blink Fitness, and a Fine Fare Supermarket.

The NewCo Portfolio gives investors the rare opportunity to own vacant, new construction multifamily buildings in the most up and coming boroughs of New York City. Properties in the portfolio may be purchased either as a package or on an individual basis.

Overview

Building Type:Apartment Buildings

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Jordan Sutton
Senior Associate
(212) 589-5101
Jordan.Sutton@cushwake.com

Jonathan Squires
Director
(212) 660-7775
Jonathan.Squires@cushwake.com

Michael Fioravanti
Associate Director
(212) 589-5119
michael.fioravanti@cushwake.com

Josh Neustadter
Associate
(212) 660-7739
josh.neustadter@cushwake.com

Addison Berniker
Associate
(212) 841-5099
Addison.Berniker@cushwake.com

Robert M. Shapiro
Executive Managing Director
(212) 660 7717
robert.shapiro@cushwake.com


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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.