A portfolio of properties in West Bronx known as the University Avenue Portfolio sold this week for an aggregate value of $13,275,000. H.W. Wilson sold the portfolio to Tuck-It-Away Associates in a deal brokered by Massey Knakal Realty Services. The Universality Avenue Portfolio, consisting of a warehouse/office building and ten surrounding development parcels in the Highbridge section of the West Bronx, was previously sold as a package in 2012, when the asking price was $21.9 million, according to a Crain's New York Business report from July 2011.
The portfolio of buildings and development sites include 950 University Ave., a collection of five inter-connected buildings totaling 142,030 square feet. "We are excited to make the building our new headquarters as well as our newest self-storage center," said the buyer, Nick Sprayregen, President of Tuck-It-Away Associates, LP.
"This site and iconic lighthouse building was home to the H.W. Wilson Company for almost a century," said Nicholas Burns, who exclusively handled this transaction with David Simone. "While most of the individual lots are slated for residential development, 920 University Avenue will become a hotel, which will be the closest hotel to Yankee Stadium," David added.
For more news and information visit Blumberg Capital Partners.
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