October 24, 2019
Cushman & Wakefield was hired to arrange the sale of 1150 Pelham Pkwy., a 50-unit elevator residential building in the Bronx’ Morris Park neighborhood. Built in 1955, the six-story property also has a 22-space parking garage.
A Cushman & Wakefield team of Jonathan Squires and Robert M. Shapiro will lead marketing efforts on behalf of the property’s seller. It’s the firm’s second assignment in the neighborhood this month.
“Apartment buildings along Pelham Parkway in the Bronx have and always will be in strong demand,” said Squires.
“Even with today’s new rent regulation changes, we anticipate multifamily operators to pay close attention to this special asset, as trades of buildings of this quality and location are a rarity,” Shapiro said.
The property is located near Albert Einstein College of Medicine, the Bronx Zoo, the Botanical Gardens and Fordham University. It’s also close to the proposed Morris Park Metro-North Station.
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