Yawitz and Tapper of Eastern Consolidated rep buyer in $17.4 million sale; 103,400 s/f Bronx apartment property sold to 78 Realty, LLC

A six-story, 103,400 s/f elevator apartment building with 84 residential units on a 30,000 s/f lot at 530 West 236th St. in the Riverdale neighborhood, has traded for $17.4 million. Eastern Consolidated senior director and principal Marcia Rose Yawitz with director Benjamin Tapper exclusively represented the purchaser, 78 Realty, LLC. "The building is in excellent condition, having been constructed, owned and managed by the same family since 1954," said Yawitz. "And, at a sales price of $17.4 million, it traded for a noteworthy per unit price of approximately $204,000 or a gross rental multiple of 11." The building offers 19 occupied garage spaces and two passenger elevators. Included as one of the 84 apartments, is a doctor's office on the first level. Tapper said, "The new owner plans to maintain the property, upgrading apartments when leases expire, to meet the needs of a younger population moving into the building." Donald Fleishacker, Esq. represented the seller, and Meyer Jeger, Esq. acted for the buyer.