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August 11, 2020 Comments Off on CushWake Team Sells Market-Rate Apartments in Port Morris Views: 572 New York News, Uptown/Bronx New York

CushWake Team Sells Market-Rate Apartments in Port Morris

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Cushman & Wakefield arranged the sale of 1955 and 1957 Lurting Ave., two multifamily buildings totaling approximately 8,500 square feet in the Bronx’s Morris Park neighborhood. Deal terms weren’t disclosed.

A Cushman & Wakefield team of Robert Shapiro, Jonathan Squires and Michael Fioravanti represented the seller.

“The free market status of 1955 and 1957 Lurting Ave. made these buildings attractive opportunities in today’s uncertain, rent-regulated market,” said Shapiro.

Squires added, “Market rate housing has become increasingly desirable and this asset’s location in Morris Park made it a valuable opportunity for an investor.”

The property consists of two five-unit brick apartment buildings. All apartments are completely occupied and consist of six one-bedroom apartments and four two-bedroom apartments.

The buildings are within walking distance to Morris Park Subway Station, serviced by the 5 train. The Bronx Zoo, Botanical Gardens, Albert Einstein College of Medicine and Jacobi Medical Center are nearby.

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