GFI Realty retained as exclusive agent for two North Bronx walk-ups; Babo and Naor to oversee marketing

November 08, 2017 - Front Section
1026 East 219th Street - Bronx, NY

 

3756 Olinville Avenue - Bronx, NY

 

Bronx, NY According to GFI Realty Services, LLC, t has been named the exclusive sales agent for a portfolio of two walk-up apartment buildings located at 1026 East 219th St. and 3756 Olinville Ave. in the North Bronx. The assets, both of which were constructed in the 1920s, are comprised of a total of nine apartments and one garage 
 
GFI Realty associates Ohad Babo and Gidon Naor will oversee the marketing of the portfolio. 
 
Located in Williamsbridge, 1026 East 219th St. is a two-story apartment building comprised of four gut-renovated units and a garage. 3756 Olinville Ave., located in the Olinville section, is a three-story, walk-up apartment building comprised of five residential units.
 
“The Bronx marketplace is really heating up and the demand for smaller assets, with between six and twelve units, is steadily increasing,” said Babo. “Buyers are eager to penetrate this market, and a smaller investment is the perfect entryway.”
 
According to Noar, “This is an ideal opportunity for a new investor, due to its stable cash flow and high CAP rate. The properties are well-maintained with renovated units, making it the perfect turnkey investment.” 

More from the New York Real Estate Journal