Multifamily Walk-Up at 3111 Willow Lane in Pelham Bay, Bronx Sells for $1,875,000

Successful Sale of 3111 Willow Lane in Pelham Bay, Bronx

Bob Knakal and his team facilitated the sale of 3111 Willow Lane, a 23-unit multifamily walk-up in the Pelham Bay neighborhood of the Bronx. The transaction, which closed on June 10, 2005, achieved a final sale price of $1,875,000.

With 21,633 square feet of space, the property presented a valuable opportunity for multifamily investment in a well-connected neighborhood. The sale highlights Bob’s ability to navigate the market effectively, ensuring optimal terms for the seller.

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Sale Details

The transaction of 3111 Willow Lane was finalized with favorable terms, reflecting the demand for well-located multifamily assets in the Bronx.

Sale Price: $1,875,000
Asset Class: Multifamily – Walk-Up
Units: 23
Building Size: 21,633 SF
Price per SF: $86.67
Sale Date: June 10, 2005
Neighborhood: Pelham Bay, Bronx

3111 Willow Lane, a classic walk-up building, featured efficient layouts, making it a sought-after investment in a transit-accessible location.

Market Strategy and Leverage

Bob Knakal and his team implemented a targeted approach, leveraging the property's strong fundamentals to attract competitive interest. The team positioned 3111 Willow Lane as a prime investment opportunity, highlighting:

The building’s steady rental income potential.
Its walk-up design, which reduces maintenance costs compared to elevator buildings.
The area's increasing appeal to investors seeking stable multifamily assets.

This strategic marketing generated strong demand, leading to a successful transaction.

Neighborhood Overview

Pelham Bay offers a strong residential market with attractive investment fundamentals:

Connectivity: Close to major transit options, including the 6 train.
Demand for Multifamily: A sought-after area for renters, ensuring steady occupancy.
Nearby Amenities: Parks, schools, and retail options enhance tenant appeal.

Conclusion

The sale of 3111 Willow Lane exemplifies Bob Knakal’s expertise in maximizing property value through strategic positioning and market insight. By effectively marketing the property’s strengths, Bob and his team secured a successful outcome for the seller, reinforcing their track record in the Bronx multifamily market.

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