Besen Sells Montefiore Medical Center’s 29-Unit Portfolio, 29 Apartments $2.4M

Besen & Associates, as an exclusive agent, is pleased to announce the sale the Montefiore Apartment Portfolio, a package of 29 market rate apartments located across seven co-op buildings and three two-family townhouses in the Bronx, NY.

 

INVESTMENT HIGHLIGHTS:

 

  • Location: the units are located in attractive Bronx neighborhoods including: Pelham Gardens, Jerome Park, Norwood, Kingsbridge Heights and Woodlawn.

  • Value-Add Opportunity: the package deal is being sold at a discount to market value. Upon vacancy, the investor can renovate and resell the unit or sell the unit “as is” for approximately 25-35% higher.

  • Strong Demand: There is very little turnover in these buildings (less than 5% per year). Homeowners are attracted to these elevator buildings for the long-term.

 

 

PORTFOLIO SUMMARY:

 

14-18 Gabriel Drive, Bronx, NY 10469,(The “Properties”) includes three 2-story walk-up buildings with 6 apartments, and totals 7,920 SF. The properties are located between Allerton Avenue and Mace Avenue in the Pelham Gardens neighborhood of the Bronx.


2866 Marion Avenue, Bronx, NY 10458, units 3J, 5J, 6E, and L2 (The “Property”) is a 7-story elevator cooperative building with 67 apartments, which totals 71,652 SF. The property is located between East 199th Street and Bedford Park Boulevard in the Jerome Park neighborhood of the Bronx.


3000 Valentine Avenue, Bronx, NY 10458, units 1E, and 6E (The “Property”) is a 6-story elevator cooperative building with 57 apartments, which totals 55,800 SF. The property is located between East 201st Street and East 202nd Street in the Jerome Park neighborhood of the Bronx.


3176 Decatur Avenue, Bronx, NY 10467, units 3C, and 5F (The “Property”) is a 7-story elevator cooperative building with 63 apartments, which totals 59,000 SF. The property is located between East 204th Street and East 205th Street in the Norwood neighborhood of the Bronx.


3184 Grand Concourse, Bronx, NY 10458, units 2H, 6H, 7C, and 7H (The “Property”) is a 7-story elevator cooperative building with 58 apartments and 6 offices, which totals 80,811 SF. The property is located between East 206th Street and Van Cortlandt Avenue East in the Jerome Park neighborhood of the Bronx.


3311 Giles Place, Bronx, NY 10463, units 7L, 5R, and 7B (The “Property”) is a 7-story elevator cooperative building with 100 apartments, which totals 98,000 SF. The property is located between Ft. Independence Street and Sedgwick Avenue in the Kingsbridge Heights-Jerome Park neighborhood of the Bronx.


3520 Tryon Avenue, Bronx, NY 10467, units 210, 408, 501, 510, 601, 603, and 610 (The “Property”) is a 7-story elevator cooperative building with 64 apartments, which totals 53,700 SF. The property is located between Putnam Place and Wayne Avenue in the Norwood neighborhood of the Bronx.


4295 Webster Avenue, Bronx, NY 10470, unit 5K (The “Property”) is a 7-story elevator cooperative building with 80 apartments, which totals 57,840 SF. The property is located between East 236th Street and East 240th Street in the Woodlawn neighborhood of the Bronx.

 

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