2200 Tiebout Avenue, Fordham Heights, Bronx, NY 10457
2200 Tiebout Avenue, Fordham Heights, Bronx, NY 10457
Fordham Heights
Art Deco Elevator Building | Long Term Ownership
| Asking Pricing | $4,250,000 |
|---|---|
| Neighborhood | Fordham Heights |
| Size | 68,110 GSF |
| Stories | 6 |
| Units | 72 |
Investment Highlights:
Meridian Investment Sales is pleased to present for sale 2200 Tiebout Avenue, a six-story, pre-war elevator apartment building built in 1937 and located in the Fordham Heights neighborhood of the Bronx. This ±68,110 SF Property sits on a 19,525 SF lot at the southeast corner of Tiebout Avenue and East 182nd Street and features 72 residential apartments.
The building is 100% rent stabilized and is currently 93% occupied. The Art Deco-style building is serviced by a passenger elevator and sits within a designated Opportunity Zone.
2200 Tiebout Avenue has been under the same ownership since 2006. In addition, the building features $99,385 of annual preferential rent upside which may be realized upon unit turnover.
Tenants benefit from the Property’s proximity to the 182nd–183rd Streets [B/D] station on the Grand Concourse, the Bx41 Select Bus Service on Webster Avenue, and the Fordham Metro-North station. The Property is also minutes from the Fordham Road retail corridor, Arthur Avenue, Fordham University and the Bronx Zoo.
With its scale, corner position, and an attractive entry basis of $59,028 per unit, 2200 Tiebout Avenue represents an opportunity to acquire a stabilized Bronx elevator asset with preferential rent upside.
