Ben Rieder Acquires Multifamily Property In Fordham, Bronx For $5.5M

Centrally located at 2295 Grand Concourse in the Fordham neighborhood of Bronx, this multifamily property stands out with its unique zoning classification of R8 and C1-4. The transaction was completed on January 19, 2022, with a sale price of $5,500,000. The building spans a total of 29,800 square feet, providing a price per square foot of $184. The buyer, Ben Rieder, acquired the property from Hysen Mehmetaj. With a buildable square footage (BSF) of 50,110 and a price per buildable square foot (PPBSF) of $109, this property offers significant potential for further development.

Summary of transation details

• Property Type: Multifamily
• Sale Price: $5,500,000
• Square Footage: 29,800
• Market: Fordham, Bronx
• Zoning: R8, C1-4
• Buyer: Ben Rieder
• Seller: Hysen Mehmetaj

It is worth noting that the property has a floor area ratio (FAR) of 3.58 and falls under tax class 2. The lot, measuring 8,324 square feet, offers ample space for various uses. The previous sale of this property took place on June 27, 2005, with a price of $2,600,000. Notably, an alteration 2 permit was issued on January 17, 2020, reflecting the property's potential for enhancement. The dimensions of the lot are 93 feet by 89.42 feet, further adding to its appeal and adaptability.