City Skyline Realty Acquires Multifamily Property In Kingsbridge Heights, Bronx For $10.25M

Located in Kingsbridge Heights, Bronx, the multifamily property at 3111 Heath Avenue has been sold in a closed transaction. The property spans 60,295 square feet with an additional 20,000 square feet in the basement. The sale price for this asset was $10,250,000, resulting in a price per square foot of $166. With 66 units in total, this property offers an attractive investment opportunity with a 6.5% capitalization rate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,250,000
• Market: Kingsbridge Heights, Bronx
• Square Footage: 60,295 sf + 20,000 sf basement
• Price Per Square Foot: $166
• Units: 66

The sale of the property was facilitated by the seller, Anthony Caruso, representing Bilynn Realty, and the buyer, Doug Peterson, represented by City Skyline Realty. The involvement of these brokers highlights their expertise and commitment to closing successful real estate deals.