Multifamily Property with Air
For Sale
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1684 GRAND AVE, Bronx, NY 10453
Multifamily asset with R7-1 zoning and additional buildable air rights.
Property Size4,022 SF
Price / SF$696.17
Days on Market178
Property Features for 1684 GRAND AVE
General Information
Standard status
Active
Size
4,022 SF
Property subtype
Multifamily
Zoning
R7-1
Occupancy
70%
Investment Type
Value Add
Net Operating Income
$244,650
Building Details
Year Built
1930
Year Renovated
2019
Buildings
1
Stories
3
Units
10
Listing Agency:
Safdie Realty Group
Listed By:
Roni Yaghoobzar · License #NY 10401324145
Source:
Crexi
Added: Apr 26
Changed: Oct 17
Last Checked: Oct 19 at 4:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Safdie Realty Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property at 1684 Grand Ave in the Bronx was built in 1930 and carries R7-1 zoning. The property information identifies 5,975 additional buildable air rights, providing a defined development component alongside the existing residential asset.
The property is classified as Tax Class 2B and is offered for sale. A cap rate is referenced in the listing information without a stated figure.
The property is classified as Tax Class 2B and is offered for sale. A cap rate is referenced in the listing information without a stated figure.
Key Highlights
- 5,975 additional buildable air rights
- R7‑1 zoning designation
- Tax Class 2B classification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,797
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,875,940
$1.9M
Cap Rate 7%
$1,339,957
$1.3M
Cap Rate 9%
$1,042,189
$1.0M
Market Conditions
NOI Build-Up for 4,022 SF
Gross rent
$178.6K $44.40/SF
− Vacancy
−$8.0K −$2.00/SF
EGI
$170.5K $42.40/SF
− OpEx
−$76.7K −$19.08/SF
NOI
$93.8K $23.32/SF
Area
ZIP 10453
Vacancy
4.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,875,940
Cap Rate 7%
$1,339,957
Cap Rate 9%
$1,042,189
Alternative Uses
Best Use
Apartment 5plus
$1.34M
$1.17M – $1.56M
NOI $93,797 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,166 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
5,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 10453, NY
81,951
Population
28,801
Households
2.8
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
0.9 sq mi
ZIP Area
91,057
Density / Sq Mi
$35,482
Median Household Income
$30,097
Median Earnings
$1,393
Median Rent
$580,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset with R7-1 zoning and additional buildable air rights.
Where is this multifamily property located?
The property is located at 1684 GRAND AVE Bronx, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 5,975 additional buildable air rights; R7‑1 zoning designation; Tax Class 2B classification
