April 25, 2023 – Thomas Connor of Horvath & Tremblay has successfully completed the sale of a seven (7) unit multi-family building in Mount Vernon, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,075,000.
The multi-family investment property, located at 114-116 W Sidney Avenue in Mount Vernon, New York is comprised of seven (7) multi-family units consisting of five (5) 3-Bedroom/1-Bathroom units, one (1), 2-Bedroom/1-Bathroom unit, and one (1), 1-Bedroom/1-Bathroom unit in 8,112 square feet of living area (10,495 square feet of total gross area) on a 0.11-acre corner parcel. The Property also features workshop/storage space and off-street parking for two (2) vehicles. 114-116 W Sidney Avenue is well-located in the heart of downtown Mt Vernon. The Property is two blocks from W Lincoln Avenue and 0.2-miles from Gramatan Avenue, the area’s primary commercial corridor, and offers a highly walkable neighborhood with numerous area amenities for residents including dining, entertainment, and retail options. The Property also offers a transit-oriented location; it is 0.2-miles from bus stops with service on six different lines, 0.6-miles from the Mount Vernon East Metro North Train Station (New Haven Line), 0.7-miles from the Mt Vernon West Metro North Station (Harlem Line) and 1-mile from the 241st Street Subway Station (Red-Line). Mount Vernon features a very strong rental market with excellent proximity to New York City and numerous prominent area employers including three large Hospitals (with more than 1,000 total beds) within 3.5 miles, creating high demand and low vacancy. The Property is also just 2-miles from Sarah Lawrence College.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.