Aziz Tareb Acquires Multifamily Property In Bronx For $2.2M

The multifamily property located at 1532 Leland Ave in Bronx has been sold for a price of $2,200,000. The property spans across 13,280 square feet with a price per square foot of $165. It consists of 17 units, all of which are rent stabilized. The price per unit stands at $129,412, and the property offers a cap rate of 6.2%. The zoning for this property is R6 and it sits on a lot size of 40 feet by 90 feet.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,200,000
• Square Footage: 13,280
• Price per Square Foot: $165
• Number of Units: 17
• Rent Stabilized: Yes
• Price per Unit: $129,412
• Cap Rate: 6.2%
• Zoning: R6
• Lot Size: 40 FT X 90 FT

The buyer of the property is Aziz Tareb, while the seller is The Bertoncini Family. The deal was facilitated by Dean Dreier & Michael Scrima. Aziz Tareb was represented by Dean Dreier, while Michael Scrima represented The Bertoncini Family.