Fred & Ben Asher Acquire Mixed-Use Property In Concourse Bronx For $1.675M

A mixed-use property located at 103-105 East 169th Street in the Concourse Bronx neighborhood has recently been sold. The property, consisting of retail space and two residential units, spans approximately 7,691 square feet. The sale price for this asset was $1,675,000, translating to a price per square foot of $217. The building's total square footage is 30,000, resulting in a price per buildable square foot of $55. The property features five retail units and two fully occupied residential apartments.

Summary of transaction details:

• Property Type: Mixed-use
• Asking Price: $2,600,000
• Sale Price: $1,675,000
• Square Footage: 7,691
• Price Per Square Foot: $217
• Building Square Footage: 30,000
• Price Per Buildable Square Foot: $55
• Units: 5 Retail + 2 Fully Occupied Residential Apartments
• Cap Rate: 7%

The seller of the property was Mark Mehlman, while the buyers of this transaction were Fred and Ben Asher. The deal was facilitated by brokers Joshua Banilivy and George Niblock. This transaction showcases the vibrant real estate market in the Concourse Bronx neighborhood.