3rd-Generation Owners Divest Last of Bronx Properties
Brix Real Estate Advisors arranged the $6.3 million sale of a 36-unit, six-story multifamily building at 55 E. 196th St. in the Kingsbridge section of the Bronx.
Matthew Barbaccia and Christian Dedvukaj of Brix represented both the sellers, Gail Davis and Stuart Manitsky of Rooftops Realty Inc., and the buyers, local investors.
According to Barbaccia, the sale price represents the “highest price per unit” for a multifamily building in the Bronx in 2020. Twenty-seven out of 36 units in the building are free market, which, Barbaccia said, “is very unique in the Bronx.”
The sellers’ family built the property in the 1940s and the grandchildren of the original developer/owner have operated and managed the property. “This was their last property in Bronx and they felt it was a good time to sell,” said Dedvukaj.
Connect New York 2020 is set to take place on Wednesday, April 29 at Upper Story by Charlie Palmer. For more information, or to register, click here.
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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).