13 Story, 96 Unit Elevator Multifamily Building | FOR SALE
$25,650,000
1514 Sedgwick Avenue, Bronx, NY 10453
5.75
Cap Rate
1,474,918
NOI
Details:
Description:
Ariel Property Advisors has been retained to sell 1514 Sedgwick Avenue, a 13-story elevator multifamily property, in the Morris Heights section of the Bronx.
Constructed in 2004, the property consists of 96 residential units comprising of 1 studio, 22 one-bedrooms and 73 two-bedrooms. All residents have access to laundry units on their respective floors and many units contain their own private terrace. The asset benefits from a 25-year 421a tax abatement, which began in 2008, and a regulatory agreement with HDC. The 93,430 gross square foot tower has 63 parking spaces at the base of the building, half of which are covered from the weather.
1514 Sedgwick Avenue is located parallel to the Major Deegan Expressway providing beautiful views of the Harlem River for half the tenants (balcony views) and expansive views of the Bronx from the back of the building. The property is in close proximity to major thoroughfares such as University Avenue, I-87, Washington Bridge and the Alexander Hamilton Bridge providing convenient driving access to the outer boroughs and Manhattan.
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Investment Brochure
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Location
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