A listing for a condo loft in the Mott Haven neighborhood of the South Bronx has broken a record with an asking price of $900,000.
Located at 305 East 140th Street at Bronx Bricks Condominiums, a converted building constructed in 1904, the 2,350 square foot apartment originally sold for $712,775 in 2007 at the peak of the market.
Bronx Bricks was the first privately financed condominium project in the South Bronx and when the 11 units were listed from $395,000 – $795,000 many balked at the prices and were skeptical that they would sell at such prices. The units all ended up selling from $388,362 – $789,143.
Since then, the area has seen continued growth and interest. Restaurants and bars are flourishing just a few blocks away on Alexander Avenue and along Bruckner Boulevard. The Lower Concourse Rezoning District is a few blocks away including the Special Harlem River Waterfront District.
The building directly abuts the Mott Haven Historic District which is filled with over 100 town houses, 2 churches, a library and the 40th precinct station house.
Bronx Art Space, run by one of the original building owner and developers, Linda Cunningham, is located on the ground floor of Bronx Bricks.
What do you think, folks?
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[…] the thought of gentrification of the South Bronx hit me? Was it when Bronx Bricks in Mott Haven, the first market-rate condos, opened up in 2007 across from a NYCHA development with 11 units selling from $388,000 to […]
[…] development will be the second market rate condo development after Bronx Brick lofts converted in 2007 with 11 loft apartments selling from $388,362-$789,143 (those prices are […]
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