7 Story, 106 Unit Elevator Multifamily Package
$13,000,000
725-737 Fox Street, Bronx, NY 10455
5.48
Cap Rate
712,507
NOI
Details:
Highlights:
- Penthouse units are duplex apartments that contain balconies with Manhattan skyline views
- Conveniently located near multiple transportation options
- Prime candidate for new tax benefits and extension of affordability
Description:
Ariel Property Advisors has been retained to sell 725-737 Fox Street in the Longwood section of the South Bronx.
725-737 Fox Street are a pair of adjacent elevator buildings consisting of 106 residential units and grossing 104,400 square feet. The properties comprise of 20 studios, 14 one-bedrooms, 60 two-bedrooms and 12 three-bedrooms. The package benefits from HDC/HPD regulatory agreements as well as J-51 tax incentives on each of the buildings that are set to expire in 2036/2037 and 2038/2039, respectively.
725-737 Fox Street is located in the Longwood section of the South Bronx and provides access to Bruckner Expressway, Robert F. Kennedy bridge, and 278. The package is conveniently located in the rapidly growing South Bronx with institutional investors and tenants increasing their presence in the area such as Amazon, Fresh Direct, Manhattan Beer Distributors and York Movie Studios. Other major on-going and completed projects are The Arch’s, a pair of 25-story towers on the Harlem River consisting of 483 units, and Brookfield’s Bankside, which is comprised of 1,350 units that will change the skyline of the emerging South Bronx. The property is also in close proximity to the 2, 5 & 6 subway stops.
Documents:
| Title | ||
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| Investment Flyer |
Location
Gallery
