Doshi and Blumberg of Besen & Assocs. sell 1041 Nelson Avenue for $5.6 million

Besen & Associates arranged the sale of 1041 Nelson Ave., located between West 164th and 165th Sts. in the Highbridge section of the borough. It is located in close proximity to the Major Deegan Expressway, Harlem River Dr., and Yankee Stadium. The property sold for $5.6 million. 1041 Nelson Ave. is a 6-story, dual elevator art deco apartment building with 56 apartments and 5 stores. It was built in 1940 and totals 57,720 s/f. The building resides on a 100.27' x 152.73' block-through lot and is built 152 ft. deep. Apartment layouts by room count include 16/4.5, 6/3.5, 22/3, 12/2 and one basement apartment housing the super. Improvements include new circuit breakers in the basement, brass plumbing, and the entire parapet was replaced with new iron railing. The average apartment rent in the building is $1,013. The retail spaces have been combined, and one is leased to a check cashing establishment while the other is vacant. The sales price represents $91,800 price per unit, and $97 price per s/f. The listing was marketed as a co-exclusive between Besen & Associates and Rosewood Realty, spearheaded by Amit Doshi, Lynda Blumberg and Aaron Jungreis. Doshi also represented the purchaser. Stuart Rich of Meister, Selig & Fein LLP represented the seller and Sander Srulowitz of Sonnenschein, Sherman & Deutsch LLP represented the purchaser.