700 East 134th Street

Bronx, NY

Sold

$4,040,000

OVERVIEW

LOCATION:
700 East 134th Street, Bronx, NY 10454

Neighborhood: Mott Haven

Asset Type: Multifamily

Square Feet: 13,975

Stories: 5

Residential Units: 21

 

Description

5 story walk up building in a rapid changing South Bronx, which was completely renovated 10 years ago. The property has approximately 13,975 SF. The residential layout is made up of 21 apartments, of which all are free market loft corner units, formerly legal 2 bedrooms. All in place tenants are month-to-month allowing for immediate rent increases.

 

The property also has a 14x48 Grandfathered billboard facing Major Deegan and Bruckner Expressways.  The billboard is current leased, to a publically traded company, with annual rent escalations attached.

 

The area around the subject property has evolved into a waterfront enclave with a mix of industrial and residential properties. The beautiful city housing developments that line the landscape, are Sharply juxtaposed against 19th-century brick buildings that are among the borough’s most attractive. All encapsulated within three of the Bronx’s 11 historic districts. Only four streets up from the property is a beautiful weekend farmers market, surrounded by businesses selling fresh flowers, fruits, and tacos late into the night. The city is also currently working on green space walking area by the river.

 

Nearby Transportation

The area around the property boasts a number of continent public transport options. The Cypress Avenue, Brook Avenue, East 143rd street and East 149th street are all walking distance. The building is also conveniently located 8 minutes away from the Harlem 125th street. And Yonkers 153rd street commuter rail stations. The property is also only a 13 minute drive to La Guardia, and approximately 30 minutes from JFK and Newark International Airport.