Parkway Realty Group Acquires MultiFamily Property From Ardowork Corporation For $14M

The property involved in the transaction is a mixed-use building located at 2690 University Avenue in Bronx, NY 10468. The building spans 58,800 square feet and consists of 62 residential units, with 60 of them being rent-regulated, along with seven commercial units. The sale price for this property was $14,000,000.00. The transaction took place between Ardowork Corporation, the seller, and Parkway Realty Group, the buyer.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $14,000,000.00
• Buyer: Parkway Realty Group
• Seller: Ardowork Corporation
• Square Footage: 58,800 SF
• Address: 2690 University Ave, Bronx, NY, 10468
• Market: Bronx

Yechiel Weinberger and Eric Miller, representing Parkway Realty Group, acquired the property from Ardowork Corporation in this transaction. Parkway Realty Group already holds a significant multifamily property portfolio in Brooklyn and the Bronx. Additionally, Mike Stern of Coldwell Banker and Scott Jacobs of NY Standard Realty were the key brokers involved, representing both the buyer and the seller in the deal.