NEW YORK, NY – September 1, 2016 – Ariel Property Advisors has been exclusively retained to sell three mixed-use buildings in the Morrisania neighborhood of The Bronx with a combined asking price of $3.6 million.
3409 Third Avenue
3409 3rd Avenue is a 25’ wide, three (3) story mixed-use building spanning approximately 6,000 square feet with four (4) residential units and one (1) commercial unit, all of which will be delivered vacant. Located in the Morrisania section of The Bronx and in a Special Mixed-Use District (MX-7), developers can build 18,604 buildable square feet as-of-right and roughly 30,250 buildable square feet if a community facility is incorporated. This gives investors the opportunity to either keep the existing building as a mixed-use property or lets them develop the site into a hotel, office, or retail site. The asking price for the property is $1.6 million.
Exclusive agents Jason M. Gold, Scot Hirschfield, Marko Agbaba, and Christopher S. Gillis are representing the seller, a private investor. Nearby transportation includes access to the 2, 5, B, D subways along the Metro North train station. Additional nearby neighborhood attractions include The Bronx Lebanon Hospital Center, Boston Road Medical Center, Bronx International High School and New York Public Library.
1141 Washington Avenue
1141 Washington Avenue is a 23’ wide, recently renovated three (3) story mixed-use building spanning approximately 4,100 square feet with an additional 1,700 square feet of sub-level space. in the Morrisania section of The Bronx. The asking price for the property is $1.025 million.
The building consists of two (2) free-market residential units, consisting of one 3-bed/2-bath and one 4-bed/2-bath apartments. The retail unit will be delivered vacant and can be split into two retail units if desired. The retail portion connects to a large sub-level space via backyard patio, which is ideal for indoor/outdoor seating area allowing for a variety of commercial tenants.
The entire building has undergone a gut renovation providing extensive work to both interior and exterior of the building. Recent renovations include a brand new roof, facade, mechanical systems and plumbing. The residential units have their own gas-heating and hot water boilers.
Exclusive agents Jason M. Gold, Scot Hirschfield, Marko Agbaba, and Christopher S. Gillis are representing the seller, a private investor.
Nearby transportation includes access to the 2, 5, B, D subways lines along the Metro North train station. Additional nearby neighborhood attractions include The Bronx Lebanon Hospital Center, Boston Road Medical Center, Bronx International High School and New York Public Library.
1049 Hoe Avenue
1049 Hoe Avenue is a 20’ wide, 3-story multifamily building spanning approximately 4,000 square feet in the Morrisania section of the Bronx. The building has six (6) units, which consist of three 1-bedroom and three 2-bedroom apartments, all of which are currently occupied multifamily property located on the west side of Hoe Avenue between Westchester Avenue and Aldus Street. The asking price for the property is just under $995,000.
The property also has mixed-use zoning that provides 3,424 buildable square feet in air rights and gives investors the opportunity to convert the ground floor for retail use.
Exclusive agents Jason M. Gold, Scot Hirschfield, Marko Agbaba are representing the seller, a private investor.
Nearby transportation includes access to the 2 and 5 trains at Simpson St and Westchester Avenue, as well as the 6 train at Hunts Point Avenue and Bruckner Boulevard.
