GFI Finalizes $20M Sale of Bronx Walk-Up Multifamily
GFI Realty Services closed the $19.9-million sale of 2501 Tratman Ave., a walk-up building comprised of 143 units, four stores and an antenna in the Westchester Village section of the Bronx.
The firm’s Zachary Fuchs and Matt Sparks represented the seller, the Sacchetti Family. Moshe Gelbstein and Joseph Landau, also of GFI Realty, represented the buyer, a local investor.
Constructed in 1928, the six-story building totals approximately 118,967 square feet, and is composed of thirty-nine studio apartments, fifty-four one-bedroom apartments, forty-five two-bedroom apartments and five three-bedroom apartments.
“The buyer immediately recognized the value of this cash producing asset located in proximity to mass transit and numerous neighborhood amenities,” said Sparks.
Added Fuchs, “This asset benefits from its proximity to the East Tremont Avenue commercial corridor and the Cross Bronx Expressway. In addition, the neighborhood of Westchester Village is attractive to prospective residents looking for relatively affordable rents.”
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).