GFI Realty Services Arranges $8.45-Million Sale of Bronx Apartment Building March 21, 2017

CityBizList | March 8, 2017

 

GFI Realty Services, LLC today announced the $8.45-million sale of 2285 Sedgwick Avenue, a six-story apartment building in the University Heights section of The Bronx. GFI Realty Associate Director Josh Orlander represented the buyer and seller, both local investors, in this transaction.

Located between West Fordham Road and West 183rd Street, the pre-war elevator building is composed of 52 apartments, with a mix of one-, two- and three-bedroom units. In total, the building comprises 58,212 square feet.

“Due to the increase in sales volume in The Bronx as well as the boost in new businesses opening in the area, the seller decided that it was a prime time to market this asset,” said Orlander. “It is rare for large elevator buildings of this caliber to come to market, particularly ones with this many three-bedroom units. The buyer recognized the value of this property and intends to invest in capital improvements and hold onto it for the long term.”

The property is situated in close proximity to Bronx Community College and Monroe College, and is just off of West Fordham Road, a commercial corridor lined with numerous local shops.

 

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