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."