Multifamily Walk-Up Building at 2112 Honeywell Avenue in West Farms Bronx Sells for $980,000

Successful Sale of 2112 Honeywell Avenue in West Farms, Bronx

‍Bob Knakal and his team closed the sale of 2112 Honeywell Avenue, a multifamily walk-up building in the West Farms neighborhood of the Bronx, for $980,000. The sale price was a result of Bob’s effective negotiation strategy, which focused on leveraging the property's value in a competitive market.

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Sale Details

‍The sale was finalized on October 30, 2007, with the buyer, Ramon Lorenzo, securing the property for $980,000. The 10-unit multifamily building offered an opportunity in a high-demand area, which Bob Knakal capitalized on to maximize the value for the seller.

Sale Price: $980,000
Property Address: 2112 Honeywell Avenue, Bronx, NY
Seller: Nicholas Giannuzzi, Donovan & Giannuzzi, LLP
Buyer: Ramon Lorenzo
Seller Type: Multifamily Owner
Property Type: Multifamily, Walk-Up
Sale Date: October 30, 2007
Asset Class: Multifamily - Walk-Up
Building Size: 12,550 SF
Units: 10
Price per SF: $78.09

Property Details

‍2112 Honeywell Avenue is a well-maintained 10-unit multifamily walk-up building in the thriving West Farms neighborhood of the Bronx. This property was an attractive investment due to its size and unit count, appealing to both investors and those looking to enter the multifamily market in the Bronx.

Full Address: 2112 Honeywell Avenue, Bronx, NY 10460
Zoning: Multifamily Residential
Unit Count: 10

The Client: A Multifamily Property Owner Seeking Expert Guidance

‍Nicholas Giannuzzi of Donovan & Giannuzzi, LLP sought Bob Knakal’s assistance in selling this multifamily property. With Bob's expertise, he was able to help the seller navigate the complex process of positioning the building in a competitive market. The result was a strategic sale that exceeded expectations.

Market Strategy and Leverage

‍Bob Knakal utilized his knowledge of the West Farms neighborhood and the broader Bronx market to position the property effectively. With interest from multiple potential buyers, Bob’s ability to negotiate favorable terms ultimately led to a successful transaction. His deep understanding of the local multifamily market allowed him to deliver the best possible outcome for the seller.

Neighborhood Overview

‍West Farms is a growing area in the Bronx that offers a mix of residential and commercial properties. Key features include:

Proximity to major transportation routes.
Residential demand driven by families and renters seeking affordable housing options.
Increasing interest from investors in multifamily buildings.
Strong rental market, making multifamily properties highly sought after.

Conclusion

‍The sale of 2112 Honeywell Avenue demonstrates Bob Knakal’s expertise in managing multifamily sales in the Bronx. His proactive strategy, market knowledge, and ability to negotiate strong terms resulted in a successful sale for the client, maximizing value and achieving an optimal price in a competitive market.