800 East 160th Street. Photocredit: 'Cushman & Wakefield' 

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NEW YORK CITY- In the Woodstockneighborhood of the Bronx, a22,230-square-foot, six-story, 28-unit mixed-use apartment buildingat 800 East 160th St. hascome to market. Situated on the southwest corner of East 160th Street and UnionAvenue, the building features 26 residential units and twocommercial units. Cushman & Wakefield is marketing the assetthat operates under a J-51tax abatement. 

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"This property operates under a J-51 tax abatement with 11 yearsremaining, which would provide investors the opportunity to acquirea property that would be tax-free for the next seven years," saidJosh Neustadter of Cushman & Wakefield in a preparedstatement.  "Additionally, 800 East 160th Street'slocation and return on investment at the price it is being offeredmakes it a highly attractive asset," added Jonathan Squires ofCushman & Wakefield in a prepared statement.

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The six-level property hasa mix of one-bedroom, two-bedroomand three-bedroom layouts. Its two commercial units currentlyconsist of two churches. The building holds R6 zoning and ownershiphas recently added a new wirelessly-controlled gas boiler and hasmade multiple renovations to the residential units.

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Walking distance from theproperty is the Prospect Avenue Subway Station accessible to the 2and 5 trains. Manhattan's Grand Central Terminal is an estimated 30minutes away from where neighboring Tri-State areas can be traveledto via Metro-North. The property is minutes away from theWestchester Avenue retail corridor, which features many nationalhousehold brands that include Dunkin Donuts, Rite Aid and DollarTree.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.