Ved Parkash Acquires Multifamily Property In Mount Hope For $6.35M

The multifamily property located at 124 East 177 Street in Mount Hope has been sold for $6,350,000. The property has a building square footage (BSF) of 56,437, resulting in a price per BSF of $112. The total lot size is 9,375 square feet, with dimensions of 75 ft x 125 ft. The property's floor area ratio (FAR) is 4.36, and it is classified under tax class 2. The previous sale of the property took place on September 17, 2013, for $4,200,000. There was an alteration permit of type 3 issued on June 6, 2019.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,350,000
• Market: Mount Hope
• Zoning: R8
• Buyer: Ved Parkash
• Seller: Scott Morgan
• Price per SF: $155
• SF: 40,875
• PPBSF: $112
• LOT SIZE: 9,375
• LAST SALE PRICE: $4,200,000 (09/17/2013)
• PERMITS: Alteration type 3 (06/06/2019)
• LOT DIMENSIONS: 75 ft x 125 ft

Ved Parkash was the buyer in this transaction, while Scott Morgan acted as the seller. The property was sold with a price per square foot (PPSF) of $155. The property's square footage is 40,875. The deal involved a multifamily property situated in the Mount Hope market, with a zoning designation of R8. The previous sale of the property occurred on September 17, 2013, for $4,200,000. It is worth noting that an alteration permit of type 3 was issued on June 6, 2019.