Brix Advisors brokers two Bronx commercial properties totaling $4.17 million

New York, NY Brix Advisors announced the sale of 1149 Nelson Ave., 122 West 167th St. and 128 West 167th St., an assemblage of three adjoining mixed-use properties in the Highbridge section of the Bronx for $2.8 million.

The buyer plans to knock down and redevelop a portion of the 11,328 s/f site while keeping and renovating the remaining portion totaling 11 units. The proposed new development will consist of 36 units bringing the total site to 47 units in this mixed-use property that sold for $247 price per s/f of existing property and $89 per buildable s/f.

Matt Barbaccia of Brix Advisors represented the buyers, Zev Mayer and Barry Wagshal and the seller Milana Aranbaiev.

Brix Advisors also announced the sale of 1254 Bradford Ave., a seven-unit multifamily apartment building in the Pelham Bay Bronx neighborhood for $1.37 million.

The 4,800 s/f, three story building with two garages, sold for a 6.1% cap rate at a 10.76 GRM, at $285 price per s/f and $195,714 price per unit. It was built in 1959.

All units in the building are rent stabilized, and the building was delivered 100% occupied.

Matthew Barbaccia of Brix Advisors represented both the buyer Nimon Brucaj and the seller, John Boiardi.

Barbaccia said, "the new owner plans to keep the property long term in his portfolio."

Tags: Brokerage

Reprint

Previous Story Next Story

Horizon Kinetics relocates new headquarters to Tishman Speyer’s Rockefeller Center

Manhattan, NY According to Tishman Speyer investment boutique Horizon Kinetics Asset Management LLC will relocate its current New York office to 18,713 s/f on the 27^th floor of 1270 Avenue of the Americas at

JLL Capital Markets facilitates $30.75 million sale of 1 North Main St. to KABR Group

JLL facilitates $30.75m sale of 1 North Main St. to KABR

Hanna Commercial Real Estate brokers Agri-Plastics 64,000 s/f manufacturing facility lease at Uniland’s 2 Steelworkers Way

Hanna Comm'l. brokers Agri-Plastics 64,000 s/f lease at Uniland’s 2 Steelworkers Way

Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons

Island Associates leases 45,000 s/f to Giunta’s Meat Farms

Delisle and Monahan of Island Associates broker 1,110 s/f lease extension for Kings Insurance

Island Associates brokers 1,110 s/f lease extension for Kings Insurance

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Cammeby’s signs 2,000 s/f lease with Maisonette at 32 Bdwy.

Columns and Thought Leadership

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.