Assignments

Wakefield 50' Corner Development Site

4790 Barnes Avenue, Bronx, NY

4790 Barnes Avenue, Bronx, NY

under contract

Asking
Sale Price
$
1800000
1800000

Property Details

Status
For Sale
Property Type
Multifamily
Price Summary
$
1800000
Sale Price
$
1800000
Buildable SF
4356
Building SF
4356
LOT SF
4356
Cap RATE
%
Zoning
R4

Highlights

• 5 units: (4) 2 bed 1 bath, (1) 1 bed 1 bath, fully occupied • 50' x 116' corner lot (5,800 sq. ft.), Qualifying Residential Site (QRS), with 4,350 BSF of unused air rights • Allowed to build additional 6 units on the property • 840 ft. from Wakefield–241st St station (2 train) • Proximity to White Plains Road retail corridor • Proximity to Mount Vernon/Westchester border, Bronx River Parkway, and I-95

Property DEscription

Landair Advisors has been exclusively retained to arrange the sale of 4790 Barnes Ave, a 4,356 sq. ft. five-family building on a 50' x 116' corner lot (5,800 sq. ft.) in Wakefield, Bronx. The building has four two-bedroom/one-bath units and one one-bedroom/one-bath unit. It is fully occupied, so a buyer gets income from day one. Zoned R4, the property is a Qualifying Residential Site (QRS) with about 4,350 buildable sq. ft. of unused air rights. That gives an investor the option to keep an income-producing multifamily asset, and use the extra development rights for an alteration adding an additional 6 residential units. The property is just 840 ft. from the Wakefield–241st Street station (2 train). It is also close to the Wakefield Metro-North station (Harlem Line), several local and Westchester bus routes, the Bronx River Parkway, and I-95. Nearby, the White Plains Road retail corridor serves the neighborhood, and the Mount Vernon/Westchester border is minutes away. With strong transit access and steady rental demand, Wakefield remains a sought-after submarket for multifamily investors.

Map

Michael Briganti
Associate
(973) 307-4494
mb@landairnyc.com
Alexandre Goulet
Partner
(212) 920-7658
ag@landairnyc.com

Documents

Offering Memorandum
Data Room

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