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New York & Tri-State  + Uptown/Bronx  + Apartments  | 

Bronx Sale Illustrates Demand for Stabilized Housing Stock

Marcus & Millichap finalized the sale of a 97-unit multifamily property at 1154 Ward Ave. in the Bronx for $7.5 million. Built in 1929, the six-story elevator building totals 90,000 square feet and is located in the Soundview neighborhood.

“This sale is a prime example of continued demand for clean, well-managed rent-stabilized apartment buildings with healthy collections,” said Michael Fusco. “Regardless of any compliance and political headwinds in New York, long-term money is still finding value in the stabilized housing stock.” 

Fusco, along with Seth Glasser and Benjamin Myerow, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller and procured the buyer. Both parties are local private investors.

“High-net-worth, local private families continue to win deals and deploy capital,” Fusco added. 

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Marcus & Millichap's Fusco

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).

  • ◦Sale/Acquisition
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