Bronx and New Rochelle, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, is exclusively offering four elevator apartment buildings for sale. The asking price is $42 million. Senior executive managing director, David Schechtman, and managing directors, Lipa Lieberman and Abie Kassin, are representing the seller in this transaction.
246-248 Centre Ave., listed for $13 million, is a six-story, 75-unit multifamily building in New Rochelle, located near The College of New Rochelle and the Isaac E. Young Middle School. The building offers views of the Harbor and Long Island Sound, and features two elevators, onsite laundry, a landscaped courtyard, and a backyard that could be developed into a parking lot. The property also contains upgraded mechanical equipment and renovated studio- to three-bedroom apartments in a family-friendly neighborhood close to parks, museums, restaurants, shops, and transportation, including the New Rochelle Metro North station.
Located at 1738 University Ave. in the Bronx and listed for $12.2 million, the second property stands six stories and consists of 72 studio- to three-bedroom units. The elevator building is in the growing Morris Heights neighborhood, near a branch of the New York Public Library, and offers views of University Malls. The property is close to parks, schools, and transportation options, such as the 4 subway train at the Jerome Ave. station and the B and D trains at the 174-175 St. station. With an average in-place monthly rents in excess of $1,400 and nearly $50,000 of preferential rents, the property offers a clear and immediate path for substantial increases.
The Soundview Portfolio, consisting of the final two properties located at 1491-1493 Watson Ave. and 1126-1130 Evergreen Ave. in the Soundview neighborhood of the Bronx, is listed for $16.7 million. The contiguous, six-story elevator buildings total 101,400 s/f and contain a combined 120 apartments with average in-place monthly rents in excess of $1,200. Both properties have been well maintained, offer residents access to light and air, and access to the main retail corridor of Westchester Ave. and the 6 subway line at the Elder Ave. station.