643 & 647 Cauldwell Avenue

Ariel Property Advisors has been retained on an exclusive basis to sell 643-647 Cauldwell Avenue in the Longwood section of the South Bronx.

643-647 Cauldwell Avenue are a pair of adjacent multifamily buildings consisting of a total of 84 residential units and grossing 57,408 square feet. The residential unit mix comprises of 47 one-bedrooms, 33 two-bedrooms, and 4 three-bedrooms. The package benefits from a J-51 tax abatement/exemption on each of the buildings, which provides investors minimal taxes for the foreseeable future. The J-51 exemption is set to expire in 2033.

643-647 Cauldwell Avenue’s location provides easy access to Bruckner Expressway, Robert F. Kennedy bridge, and 278. The property is in close proximity to the 2 and 5 subway stops. The package is conveniently located in the rapidly growing South Bronx with institutional investors and tenants increasing their presence in the area such as Amazon, Fresh Direct, Manhattan Beer Distributors and York Movie Studios. Other major on-going and completed projects are The Arch’s, a pair of 25-story towers on the Harlem River consisting of 483 units, and Brookfield’s Bankside, which is comprised of 1,350 units that will change the skyline of the emerging South Bronx.