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.”