Newly Constructed Multifamily Apartment
For Sale
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931-939 Summit Ave, Bronx, NY 10452
Newly constructed multifamily package totaling 60 units, with 421A abatements scheduled to expire in 2030 and 2034.
Property Size40,700 SF
Price / SF$221.13
Days on Market69
Property Features for 931-939 Summit Ave
General Information
Standard status
Active
Size
40,700 SF
Property subtype
Multifamily
Zoning
R7-1
Net Operating Income
$830,488
Building Details
Units
60
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Jared Friedman · License #NY
Source:
Crexi
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 12 at 6:29AM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
This offering presents a newly constructed multifamily package comprising two address groupings in the Bronx. At 931-939 Summit Avenue, there are four contiguous eight-unit buildings for a total of 32 apartments, with a unit mix of one studio-bedroom, five 1-bedrooms, and two 2-bedrooms per building. At 987-989 Ogden Avenue, there are four contiguous 14-unit buildings for a total of 28 apartments, with a unit mix of two studios, five 1-bedrooms, and 12 1-bedrooms per building. The Summit Avenue buildings were built in 2015, and the Ogden Avenue buildings were built in 2018. Both groups currently benefit from 421A tax abatements, with expiration dates in 2030 and 2034, respectively.
The property is in the High Bridge section of the Bronx and is described as within walking distance to the B, D and 4 subway train station.
For investors or operators seeking a larger, build-year recent apartment package, the combination of contiguous buildings and defined unit mixes across both locations supports consistent property management. The presence of expiring 421A abatements also provides a clear timeline for transitioning the apartments to free-market status after each expiration date, based on the terms described for this package.
The property is in the High Bridge section of the Bronx and is described as within walking distance to the B, D and 4 subway train station.
For investors or operators seeking a larger, build-year recent apartment package, the combination of contiguous buildings and defined unit mixes across both locations supports consistent property management. The presence of expiring 421A abatements also provides a clear timeline for transitioning the apartments to free-market status after each expiration date, based on the terms described for this package.
Key Highlights
- Newly constructed Bronx multifamily package offered together: 60 total units across four buildings on Summit Ave and two buildings on Ogden Ave
- 931‑939 Summit Avenue: four contiguous 8‑unit buildings with 32 total units; built in 2015
- 987‑989 Ogden Avenue: two contiguous 14‑unit buildings with 28 total units; built in 2018
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,328
Businesses Nearby
Explore this area
Business Placement
Demographics for 10452, NY
77,564
Population
28,854
Households
2.7
Avg Household Size
35
Median Age
14%
College-Educated
71%
High-School Grad
1.0 sq mi
ZIP Area
77,564
Density / Sq Mi
$37,854
Median Household Income
$32,732
Median Earnings
$1,367
Median Rent
$263,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed multifamily package totaling 60 units, with 421A abatements scheduled to expire in 2030 and 2034.
Where is this apartment building located?
The property is located at 931-939 Summit Ave Bronx, NY.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Newly constructed Bronx multifamily package offered together: 60 total units across four buildings on Summit Ave and two buildings on Ogden Ave; 931‑939 Summit Avenue: four contiguous 8‑unit buildings with 32 total units; built in 2015; 987‑989 Ogden Avenue: two contiguous 14‑unit buildings with 28 total units; built in 2018
