The Real Deal New York

Asden picks up 170-unit Bronx building for $26M

Morgan Real Estate bought the property in 2013 for $17M
By Tess Hofmann | April 09, 2015 01:53PM

Asden Properties acquired a 170-unit apartment building in the Bronx for $25.6 million, according to property records filed with the city today.

The 12-story property is located at 1777 Grand Concourse in the Mount Hope neighborhood. The seller, Morgan Real Estate, purchased it in 2013 for $16.9 million, and before that it traded for $15 million in 2012.

Constructed in 1948, the building also contains two retail units, and spans a total of about 172,000 square feet, records show.

Asden also owns a 114-unit residential building at 3224 Grand Concourse, and seven other residential buildings across the Bronx. In December, it purchased two buildings on Dekalb Avenue for a total of $18.8 million. 

Eli Bleeman runs Asden, a Jackson, N.J.-based development firm, and was not immediately available to comment.

Kyna Doles contributed reporting.