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    Property profile & analytics
    OFF-MARKET Estimated value $15,525,000
    Office buildings

    878 Brk Ave, Bronx, NY 10451

    86,228 SF 0.34 ac lot Built 1904
    Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US63-2903599
    Property summary
    AI-generated overview

    This unique 121,000 square foot, nine-story former Bronx Borough Courthouse, located at 878 Brook Avenue in the Melrose neighborhood, presents a compelling redevelopment opportunity. Built in 1904, this vacant building boasts stunning Beaux-Arts architecture, featuring exquisite stonework, expansive windows, and intricate detailing. Situated on a full city block at the intersection of 3rd Avenue, near the Jackson Avenue subway station (2 & 5 trains), its convenient location offers excellent transit access via the BX13, BX6, BX15, and BX21 bus lines. The property benefits from its designation as an Opportunity Zone and C4-4 zoning, unlocking significant potential for adaptive reuse. Internal features include a grand lobby, two elevators, and two staircases. Furthermore, the building has brand-new rough-ins for high-end plumbing, mechanical, and electrical systems, simplifying future renovations. The surrounding area is vibrant, with nearby tenants including NYC Charter High School for Architecture, BOOM! Health Wellness Center, and several other businesses and institutions. This property is in School District 7 and offers substantial upside potential for investors seeking a landmark project. The availability of Federal and State tax credits for the purchaser adds further incentive. This is a rare chance to acquire a piece of Bronx history and transform it into a thriving modern asset.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING (MULTI-STORY)
    Year built 1904
    Total area 86,228 SF
    Lot 0.34 ac (14,663 SF)
    Zoning code C4-4
    APN 02365-0035
    UPID US63-2903599
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Old Bronx Court House Tour Operator
    • Liberty Square Realty Property Management Company
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $15.53M
    Owner & transaction history
    Liberty Square Realty Corp · 3 yrs held
    Liberty Square Realty Corp
    since 2023
    1 recorded transaction
    2023
    Zoning & alternative use
    C4-4 · Bronx, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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