Multifamily Property for Sale at 126 Alexander Avenue

The New York Multifamily Team at Marcus & Millichap is pleased to present the following opportunity in one of the most sought-after neighborhoods of the Bronx. 126 Alexander Avenue is a fully gut-renovated, tax class-protected, free-market asset located between Bruckner Boulevard and 134th Street and issurrounded by the recent Mott Haven development boom. This asset is just a short walk to the 132 street Harlem River waterfront. Composed of five apartments and one store, this Tax class protected (2B) building benefits from its statutorily free market status with no regulatory paperwork required. 126 Alexander has undergone a 100% complete gut renovation with all new building systems throughout. Each apartment features high-end finishes and in-unit washer and dryers, while tenants are responsible for their own heat and hot water. Additionally, the property features a fully built-out private rooftop space for tenants.126 Alexander benefits from a prominent ground-floor retail space occupied by Sculpt NYC, a well-known medical spa. With an average rent of $3,050 perapartment, the property is also surrounded by a significant pipeline of new residential development throughout Mott Haven, reinforcing the long-term growth within the immediate area. Located on the premier block in the South Bronx, this stretch of Alexander Avenue is considered “Restaurant Row”, with a trendy feel similar to Williamsburg or Dumbo. 126 Alexander is just steps from the Willis Avenue Bridge, the Third Avenue Bridge, the Bruckner Boulevard retail corridor, Pulaski Park, and the 138th Street train station.

•   Turn-Key Asset:   This 100% free market asset offers investors the opportunity to purchase a turn-key operation with a clear path to upside through retail repositioning & capitalizing on existing rental growth in the area. 

•   Established Retail: 126 Alexander benefits from a prominent ground-floor retail space occupied by Sculpt NYC, a well-known medical spa. The tenant currently pays $7,868 per month. 

•   Tax Class Protected:   126 Alexander Avenue is a tax class 2B asset with tax liability capped at 8% per year or 30% over 5 years. 

•   Ideal Location: Near the Willis Avenue Bridge, the Third Avenue Bridge, theBruckner Boulevard retail corridor, Pulaski Park, 138th Street train station, and multiple newly developed projects