Log In/Sign Up
Your email has been sent.
80-84 Bruckner Blvd
Bronx, NY 10454
Bruckner by the Bridge · Multifamily Property For Sale
·
422 Units
Investment Highlights
- 3 separate buildings spanning 476,038 gross square feet with 419 residential units and 3 commercial/ parking units.
- Residential and parking condos benefit from 420-c tax exemptions, significantly minimizing the real estate tax load until 2048.
- Located at the cornerstone of the evolving Mott Haven submarket, a neighborhood defined by a historic surge in large-scale residential development.
- Commercial condos utilize the Industrial & Commercial Abatement Program (ICAP) to mitigate costs.
- Constructed in 2009, this elevator-serviced building offers state-of-the-art systems requiring minimal capital expenditures.
- Path for significant revenue growth driven by a recently executed 610 Amendment, allowing ownership to collect the full voucher payment standards.
Executive Summary
Massive Institutional Scale
3 separate buildings spanning 476,038 gross square feet with 419 residential units and 3 commercial/ parking units
Revenue Diversification
Complementing the residential units are two high-value commercial anchors: a Day Care and a School
Dedicated parking component adds additional steady monthly cash flow
Deep Tax Savings
Residential and parking condos benefit from 420-c tax exemptions, significantly minimizing the real estate tax load until 2048
Commercial condos utilize the Industrial & Commercial Abatement Program (ICAP) to mitigate costs
Comprehensive Assumable Debt Structure
Current financing features an attractive 3.84% swap rate through May 2027 on 7-day SIFMA bonds plus servicing and credit enhancement, at which point the debt transitions to a flexible floating-rate structure with reduced servicing fees. Investors can further optimize yield by using the principal reserve fund—projected to hit the required 20% threshold in 2027—to pay down the bonds, lowering annual interest payments through 2042.
Modern Infrastructure
Constructed in 2009, this elevator-serviced building offers state-of-the-art systems requiring minimal capital expenditures
Mott Haven’s Institutional Transformation
Located at the cornerstone of the rapidly evolving Mott Haven submarket, a neighborhood defined by a historic surge in large-scale residential development, trendy waterfront parks, and an expanding retail landscape
Income Upside
Path for significant revenue growth driven by a recently executed 610 Amendment, allowing ownership to collect the full voucher payment standards
141 current voucher-backed units
Strategic Gateway Location
Occupying a high-visibility corner at Willis Avenue and Bruckner Boulevard, the property serves as a dominant gateway between Manhattan and the Bronx, offering a "minutes-to-Manhattan" commute via the Willis Avenue Bridge and immediate access to major transit thoroughfares
3 separate buildings spanning 476,038 gross square feet with 419 residential units and 3 commercial/ parking units
Revenue Diversification
Complementing the residential units are two high-value commercial anchors: a Day Care and a School
Dedicated parking component adds additional steady monthly cash flow
Deep Tax Savings
Residential and parking condos benefit from 420-c tax exemptions, significantly minimizing the real estate tax load until 2048
Commercial condos utilize the Industrial & Commercial Abatement Program (ICAP) to mitigate costs
Comprehensive Assumable Debt Structure
Current financing features an attractive 3.84% swap rate through May 2027 on 7-day SIFMA bonds plus servicing and credit enhancement, at which point the debt transitions to a flexible floating-rate structure with reduced servicing fees. Investors can further optimize yield by using the principal reserve fund—projected to hit the required 20% threshold in 2027—to pay down the bonds, lowering annual interest payments through 2042.
Modern Infrastructure
Constructed in 2009, this elevator-serviced building offers state-of-the-art systems requiring minimal capital expenditures
Mott Haven’s Institutional Transformation
Located at the cornerstone of the rapidly evolving Mott Haven submarket, a neighborhood defined by a historic surge in large-scale residential development, trendy waterfront parks, and an expanding retail landscape
Income Upside
Path for significant revenue growth driven by a recently executed 610 Amendment, allowing ownership to collect the full voucher payment standards
141 current voucher-backed units
Strategic Gateway Location
Occupying a high-visibility corner at Willis Avenue and Bruckner Boulevard, the property serves as a dominant gateway between Manhattan and the Bronx, offering a "minutes-to-Manhattan" commute via the Willis Avenue Bridge and immediate access to major transit thoroughfares
Property Facts
| Sale Type | Investment | Lot Size | 1.49 AC |
| No. Units | 422 | Building Size | 357,320 SF |
| Property Type | Multifamily | No. Stories | 10 |
| Property Subtype | Apartment | Year Built | 2009 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | B | Parcel Number | 02295-7501 |
| Zoning | M1-5/R8A/MX-1 | ||
| Sale Type | Investment |
| No. Units | 422 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 1.49 AC |
| Building Size | 357,320 SF |
| No. Stories | 10 |
| Year Built | 2009 |
| Opportunity Zone |
Yes |
| Zoning | M1-5/R8A/MX-1 |
| Parcel Number | 02295-7501 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Wheelchair Accessible (Rooms)
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 419 | - | - |
1 of 15
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
