The New York City multifamily market ended the third quarter of 2018 leaving transaction volume nearly unchanged while posting a substantial increase in dollar volume. Comparing the year-over-year average of the trailing 6 months through September of 2018, the average transaction volume fell to 36 transactions from 37 during the prior year.
Renovation / Repositioning Opportunity:
354 West 56th Street
Within very close proximity to Central Park, this property covers 13,500 gross square feet and consists of 65 SRO units and 2 below-grade commercial units.
South Bronx Development Site in Opportunity Zone:
101 Bruckner Boulevard
With 97 years remaining on the leasehold at only $100,000/year in rent, this vacant lot covers a 12,500 SF area with M1-2/R6A/MX-1 zoning (FAR 3.0) which allows for approximately 37,500 buildable SF.
Pelham Parkway Multiple Tenant Commerical Building:
2530 Boston Road
The subject property is a two-story commercial building on a 7,023 square foot corner lot. It offers over 9,800 square feet of rentable square footage and has space for six ground floor tenants, and three second-floor tenants.