Bronx, NY Friedman-Roth Realty Services sold an apartment building located at 710 East 235th St. The six-story walk-up, located just off the corner of White Plains Rd., features 35 residential units and encompasses 37,200 s/f.
The building was constructed in 1928 and was sold for a price of $6 million. George Niblock represented the seller and the purchaser was procured by Joshua Banilivy.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,