Lincoln Avenue Lofts at 520 Lincoln Ave in Mott Haven sold out in just three weeks, with a penthouse closing at $1.3 million—a new Bronx condo record.

JCAL Development Group’s Lincoln Avenue Lofts, a 38-unit condo building at 520 Lincoln Ave, fully sold out in just 21 days, according to exclusive agent Julia Gilman of Compass. Buyers scooped up every unit since sales launched in mid-May, a pace rarely seen in the Bronx condo market.

The record-breaking sale came when Penthouse 7A closed at $1,295,000 this week, topping the borough’s previous new-construction condo record by nearly $100,000. Gilman says, “We’ve seen Brooklyn prices come uptown, but even I was surprised to see so many all-cash offers north of $900,000.”

Demand was fueled by a wave of buyers from Long Island City and Harlem, drawn by larger layouts and a six-minute walk to the 138th Street–Grand Concourse 4/5 station. Amenities at Lincoln Avenue Lofts include a 24-hour attended lobby, gym, and a 3,000-square-foot rooftop deck overlooking the Harlem River.

Longtime Mott Haven resident and Bronx Community Board 1 chair Arline Parks says the sell-out underscores the area’s rapid transformation: “When a $1.3 million penthouse closes on Lincoln Ave, it changes what’s possible for the entire South Bronx.”

Frequently Asked Questions

Where exactly is Lincoln Avenue Lofts and who developed it?

The building is located at 520 Lincoln Ave in the Mott Haven section of the Bronx. It was developed by JCAL Development Group, a firm known for recent residential projects in the South Bronx.

What is the significance of the $1.3 million penthouse sale?

The $1,295,000 closing price for Penthouse 7A is the highest ever recorded for a new-construction condo in the Bronx, surpassing the previous record by almost $100,000. This marks a major shift in the borough’s real estate market.

Why did these condos sell out so quickly?

Lincoln Avenue Lofts attracted buyers with larger units, high-end amenities, and proximity to the 4/5 subway at 138th Street. Many buyers came from northern Manhattan and Queens in search of more space and new construction at relatively competitive prices.

Frequently Asked Questions

Where is Lincoln Avenue Lofts located?

Lincoln Avenue Lofts is located at 520 Lincoln Ave in the Mott Haven section of the Bronx.

Who developed Lincoln Avenue Lofts?

The building was developed by JCAL Development Group.

What record did the Lincoln Avenue Lofts penthouse sale break?

Penthouse 7A sold for $1,295,000, setting a new record for the highest price ever paid for a new-construction condo in the Bronx.

How quickly did Lincoln Avenue Lofts sell out?

All 38 units sold out in just three weeks, between May 13 and June 3, 2024.

Why did Lincoln Avenue Lofts attract so many buyers?

Buyers were drawn by larger layouts, high-end amenities, and proximity to the 138th Street–Grand Concourse 4/5 subway station.

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