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

Morrisania Apts. Change Hands in GFI Deal

GFI Realty Services arranged the $5.75-million sale of 1384 and 1390 Boston Rd., two mixed-use multifamily and retail buildings in the Morrisania section of the Bronx. The firm’s Zachary Fuchs and Sasha Berg represented the seller, Alex Mehmetaj. Sylvia Spielman, also of GFI, represented buyer Joel Wertzberger.

Constructed in 1905, the two adjacent five-story buildings, totaling approximately 29,054 square feet, are composed of 32 apartments and four ground-floor commercial spaces. “The Bronx marketplace is still active, with buyers attracted to assets of this size, particularly those with a commercial component,” said Fuchs.

“These mixed-use properties are stable cash flowing assets that are ideally situated on a major commercial corridor in the area, and are neighbored by numerous local shops and eateries,” Berg said.

The South Bronx has experienced an uptick in development in recent years, with sales in Morrisania increasing significantly on a year-over-year basis.

Pictured: 1390 Boston Rd.

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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 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 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