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New York & Tri-State   /   April 8, 2021

Paul Bubny
By: Paul Bubny

Bronx Apartments Trade in Off-Market Deal

Alpha Realty arranged the sale of 1580 Edison Ave. in the Bronx. The four-story apartment building consists of 27 apartments and one retail unit.

Alpha Realty’s Bronx team, Lev Mavashev and Yehuda Leser, represented both parties in this off-market transaction. The seller was looking to capitalize on his asset, and the buyer was a local owner looking to grow his multifamily portfolio.
 
The asset traded at $4,800,000 which equates to a 6.3% cap rate and $209 per square foot.

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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