1039 Washington Ave - Apartments FOR SALE


Bronx, NY 10456- Morrisania
$73,000,000 USD
929-552-9465
1039 Washington Ave, Bronx, NY for Sale
$73,000,000 USD
Apartments - FOR SALE
1/16
null | 6.2% Cap Rate

1039 Washington Ave
Bronx, NY 10456
Morrisania


HIGHLIGHTS

  • 1039 Washington Avenue is a newly constructed 10-story apartment building with 104 two-bedroom units, solar panels, and a 35-year tax abatement.
  • Features 42,000 contiguous square feet of ground and second-floor retail, offices, and mixed-use space, including 6,000 square feet of balconies.
  • Includes three passenger elevators, 60 on-site parking spaces, central air and heating, and full sprinkler coverage throughout the property.
  • High-traffic location near Webster, Melrose, and Washington Avenues, with exposure to over 10,000 passing vehicles per day and excellent visibility.
  • Surrounded by a strong local market of over 712,800 residents within a 2-mile radius, supporting robust consumer spending and market growth.
  • Conveniently located close to Yankee Stadium, Crotona Park, the Metro-North Melrose stop, and the 167th Street subway for easy accessibility.

OVERVIEW

1039 Washington Avenue presents a premier investment opportunity in the heart of the Morrisania residential neighborhood in the southwestern Bronx. This newly constructed 10-story mid-rise apartment building, with a Temporary Certificate of Occupancy (TCO) expected in January 2026, combines modern design, impressive amenities, and exceptional income potential. The development features 104 two-bedroom residential units, three passenger elevators, and 60 on-site parking spaces, complemented by solar panels and a 35-year tax abatement. Over 38,000 square feet of retail and community facility space is available on the ground and second floors, plus 6,000 square feet of commercial balconies, creating a total of 44,000 square feet of contiguous space for retail, office, and mixed-use tenants. Additional features include 10- to 12-foot finished ceilings, central air and heating, and full sprinkler coverage. 1039 Washington Avenue is just one block from Webster, Melrose, and Washington Avenues, drawing exposure to over 10,000 vehicles daily and benefiting from a vibrant local market of over 712,800 residents within a 2-mile radius. Nearby points of interest, like Yankee Stadium, Crotona Park, and multiple transit options, including the Metro-North Melrose stop and the 167th Street subway station, further enhance the property's appeal. Set within one of the Bronx's most dynamic and walkable neighborhoods, 1039 Washington Avenue presents a high-quality, income-generating asset with strong long-term growth potential.

FOR SALE DETAILS

PRICE

$73,000,000 USD

PRICE/SF

$462 USD /SF

# OF UNITS

104

PRICE/UNIT

$701,923

CAP RATE

6.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1039 Washington Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

10

YEAR BUILT

2025

PARKING SPACES

64

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

R5X, C2-4

APN/PARCEL ID

02387-0044,02387-0049,02387-0051

ASK ABOUT THIS PROPERTY

Boris BabakhanovPlatinum Management GroupMore Info
929-552-9465

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Boris BabakhanovPlatinum Management GroupMore Info
929-552-9465

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.