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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 Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

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