Prana Investments Acquires Multifamily Building In Bronx's Norwood Section For $4.25M

A multifamily building located at 144 East 208th Street in the Bronx's Norwood Section has been sold for $4,250,000. The property spans a total of 36,800 square feet, resulting in a price per square foot of $115. This building consists of 28 units, with each unit valued at approximately $151,785.

Summary of transaction details

• Property Type: Multifamily Building
• Transaction Amount: $4,250,000
• Address: 144 East 208th Street
• Market: Bronx, Norwood Section
• Seller: Don Lou Realty — Louise Parrish
• Buyer: Prana Investments – Rick Herman
• Brokers: Stephen R Preuss & Kevin Louie from Team Preuss, Jonathan Squires & Addison Berniker
• Square Footage: 36,800
• Units: 28
• Price per Square Foot: $115
• Price per Unit: $151,785

The sale was facilitated by brokers Stephen R Preuss and Kevin Louie from Team Preuss, as well as Jonathan Squires and Addison Berniker. It is worth noting that the building was rent stabilized within the AEP program.