A three-alarm fire swept through a 13-story apartment building on the Grand Concourse, last night, injuring more than two dozen residents and at least ten firefighters. Five people – all civilians - are in a serious condition, fire officials say.
The blaze, at 1749 Grand Concourse, started in a first floor apartment at approximately 9 p.m. Patricia Zenon, who lives in the apartment next door, said she heard glass smash. “I opened my door and came out into a wall of blackness.” she said.
The fire is not being treated as suspicious. More here in the Mount Hope Monitor.
In the above photo, building residents survey the damage (Photo: James Fergusson)
According to the Daily News article on this fire http://www.nydailynews.com/news/2007/04/09/2007-04-09_beastly_bronx_blaze.html , "City records show that the 270-unit building was bought in February for $28.3 million by investors Stephen Siegel, Andrew Goldberg and Jeffrey Goldberg."
ReplyDeleteThese are the same investors of SG2 Properties that recently purchased a package of over 50 buildings for more than $77,000 per unit. I'm not sure if this recent purchase was part of that same package. In any case, it shows some of the risk still involved in the Bronx multifamily market, especially when paying more than $100,000/unit like in this case!
By the way, get a copy of the Daily News today and check out the Patrice O'Shaughnessy article in the Bronx Boro Section. She mentions the shrinking affordability forum and the general issue of stagnating wages and rising housing costs.