This mixed-use apartment building, located at 1975 Lafontaine Avenue in the Bronx, consists of 2 stores and 50 apartments. The asset has a total square footage of 48,387 and was sold for a price of $1,500,000. The price per unit is $28,846, with a price per square foot of $31. The property is characterized by a gross rent multiplier (GRM) of 1.71x and a capitalization rate (cap rate) of 10.6%. It is noteworthy as the first Bronx sale at less than $30,000 per unit.

Summary of transaction details:

• Property Type: Mixed-Use Apartment Building
• Transaction Amount: $1,500,000
• Unpaid Principal Balance: $4,600,000
• Units: 52
• Square Footage: 48,387
• PPU: $28,846
• PPSF: $31
• GRM: 1.71x
• Cap Rate: 10.6%
• Date of Sale: 12/31/2025
• Brokers: Amit Doshi & Shallini Mehra - Meridian Capital Group

Amit Doshi and Shallini Mehra from Meridian Capital Group represented the parties in this transaction, facilitating the sale of the distressed asset. Their involvement highlights the significant brokerage role in the completion of this deal.