SELLING POINTS: GFI sells Bronx apt. building for $11.525M December 02, 2019

Real Estate Weekly | November 27, 2019

GFI Realty Services has arranged the $11.525-million sale of 3540 Decatur Avenue, an elevator building comprised of sixty-six units located in the Norwood section of the Bronx.

Constructed in 1962, the six-story building totals approximately 67,000 s/f, and is composed of seven studio apartments, forty-seven two-bedroom apartments and twelve two-bedroom apartments.

GFI Associates Zachary Fuchs and Sasha Berg represented the seller, Richard Laubsh, and the buyer, Zeqe Mehmetaj.

“The new owners were excited about the basis of under $175k a door for an elevator building which makes for a safe long term investment, ” said Berg.

The property is situated within a short walk of the 2 and 5 subway lines.