SELLER: Morgan Group
BROKER: Aaron Jungreis @RosewoodRealtyGroupNY
BSF: 105,350 ~ PPBSF: $109
SF: 74,550 ~ PPSF: $154
UNITS: 80 ~ PPU: $143,750
LAST SALE PRICE: $7,150,000 (11/2012)
NOTE: Rosewood Realty Group announced the $11.5 million sale of 2055 Anthony Avenue, a six-story, 80-unit apartment building in the Fordham Heights section of the Bronx. The 74,580-square-foot elevator building at sold for 10 times the current rent roll, at a capitalization rate of 6%. The rent-stabilized building was built in 1920 and features 30,800 square feet of air rights and a superintendent’s apartment in the basement.
Rosewood’s Aaron Jungreis represented both seller Morgan Group and the buyer.
“This sale marks our 10th sale in the Bronx so far this year,” said Jungreis, who added he is seeing a renewed interest in the Bronx. “This building was well maintained for the past 10 to 20 years so the buyer has very little capital improvements to do. Also, the rents are relatively low to start with, so collections have been pretty strong, making it a good investment for the buyer.”