Prana Investments Acquires Multifamily Property In Morris Heights, Bronx For $9.83M

The multifamily property located at 1738 University Ave in Morris Heights, Bronx, was recently sold for a price of $9,825,000. The property spans across 66,936 square feet, resulting in a price per square foot of $146. The asset is zoned as R7-1 and C1-4, indicating its purpose for multifamily use.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $9,825,000
• Square Footage: 66,936
• Price per Square Foot: $146
• Address: 1738 University Ave
• Market: Morris Heights, Bronx

Prana Investments, represented by Rick Herman, served as the buyer in this transaction, while Rosedale Management, represented by Elizabeth Crane, acted as the seller. The deal was facilitated by brokers Amit Doshi, David Schechtman, and Shallini Mehra from Meridian Capital Group and Team Doshi.