The Perlleshi Family Acquires Multifamily Property In Pelham Bay For $4.8M

The multifamily property located at 1580 Edison Avenue in Pelham Bay has been sold in a recent transaction. The property is zoned as R4A and encompasses a total of 5,400 square feet. It boasts a gross rent multiplier (GRM) of 10.1x and a capitalization rate (CAP) of 6.5%. The sale price for this property was $4,800,000, with a price per square foot (PPSF) of $208.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,800,000
• Address: 1580 Edison Avenue, Pelham Bay
• Market: Pelham Bay
• Zoning: R4A

The buyer of the property is the Perlleshi Family, while the seller is the Hofer Family. The deal was facilitated by brokers Lev Mavashev and Yehuda Leser from Alpha Realty NY.