GFI Realty Services Inc. has completed the sale of 1700 Mahan Ave., a.k.a. 3101 Roberts Ave., a listing in the Pelham Bay section, for $1.05 million, which translates to seven times the rent roll. The three story mixed-use building consists of 12 apartments and two offices totaling 5,616 s/f. Daniel Shragaei and Shlomo Antebi, both of GFI Realty Services, were the brokers in this transaction.
"The buyer was very excited about this rare opportunity to purchase a post-war apartment building in the Pelham Bay area of the Bronx," said Antebi.
"The building currently has three vacant apartment units and the buyer has plans for some major capital improvements. He has purchased this property as a long term investment," said Shragaei.
This multifamily apartment building was built in 1978 and is located near the 6 subway train as well as Pelham Bay Park, the Bruckner Expressway and the Hutchinson River Pwy. Tags: