Type:
Multifamily
Sq Ft:
40,700
Units:
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931-939 SUMMIT AVENUE & 987-989 OGDEN AVENUE
High Bridge, Bronx, New York
$9,000,000
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained to sell 931–939 Summit Avenue and 987–989 Ogden Avenue, Bronx, NY 10452, offered together as a newly constructed multifamily package in the High Bridge section of the Bronx.
931-939 Summit Avenue offers (4) contiguous eight (8) unit buildings that are in the High Bridge section of the Bronx. Each building is made up of 8 apartments giving a total of 32 units across the four buildings. Each building is broken down to one studio-bedroom, five 1-bedrooms, and two 2-bedrooms. The buildings currently have a 421A Tax abatement that expires in 2030. Once the 421A tax abatement expires you will have the ability to turn apartments free market allowing you to capture market rent and increase the net operating income.
Built in 2015, the property is 96 feet wide and 60 feet deep, giving a total of 21,200 square feet. The building is in walking distance to
the B, D and 4 train subway station.
987-989 Ogden Avenue offers four (2) contiguous fourteen (14) unit buildings that are also in the High Bridge section of the Bronx.
Each building is made up of 14 apartments giving a total of 28 units across the two buildings. Each building is broken down to two studios, five 1-bedrooms, and 12 1-bedrooms. The buildings currently have a 421A Tax abatement that expires in 2034. Once the 421A tax abatement expires you will have the ability to turn apartments free market allowing you to capture market rent and increase the net operating income.
Built in 2018, the property is 75 feet wide and 60 feet deep, giving a total of 19,500 square feet. The building is in walking distance to the B, D and 4 subway train station.
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Block & Lot:
2523-66,67, 2524-56,
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Neighborhood:
High Bridge
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Cross Streets:
West 161st and 162nd Street, West 163rd and West 164th Street
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Units:
60
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Total Approx. SF:
40,700
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Zoning:
R7-1
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FAR:
3.44
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Tax Class:
2B
