Situated in the Knightsbridge Heights neighborhood of the Bronx, the Bailey Residences apartment portfolio was acquired in 2010 as a distressed property. Ownership implemented a property-wide repositioning and successfully refinanced the properties in 2015.
The Bailey Residences consists of two walk-up buildings and one elevator building comprising a total of 219 rental apartments boasting a mix of one, two and three bedrooms. Since being acquired, significant improvements have been made to many of the apartment unit and common areas, as well as converting the buildings to gas. The property is located just one block east of Broadway and the adjacent Riverdale neighborhood which boasts a bustling shopping district, with major retailers. The Broadway Plaza, a newly constructed indoor shopping mall, is also located just two blocks away. The property is also within a two-block radius of the major Deegan expressway, and the Mosholu expressway, providing easy access to all major transportation hubs.