Lala and Wynne of Marcus & Millichap arrange $7.7 million 49-unit Bronx apartment building

Bronx, NY Marcus & Millichap arranged the sale of a 49-unit apartment property, according to J.D. Parker, regional manager of the firm’s Manhattan office. The asset sold for $7.7 million. Marco Lala and Chris Wynne, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, an institutional investor, was also secured and represented by Lala and Wynne The subject property is located at 1072 Woodycrest Avenue located in the Highbridge section. “Highbridge, the walking bridge and neighborhood’s namesake, was recently reopened adding to the investor appeal that already exists in this area,” said Lala. “The Bronx is being simultaneously elevated as a hotspot for capital and one of New York City’s last pockets of affordable housing, our purchasing investor was fortunate enough to get in on the ground floor a booming marketplace.”