MB Capital Asset Management Acquires Multifamily Property In Bedford Park, Bronx For $8.25M

The multifamily property located at 246 East 199th Street in the Bedford Park area of Bronx has been sold. The transaction took place on November 20, 2018, with a sale price of $8,250,000. The property spans a total of 41,250 square feet, resulting in a price per square foot of $200.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $8,250,000
• Date of Transaction: 11/20/2018
• Address: 246 East 199th Street, Bedford Park, Bronx
• Market: Bedford Park

The seller of the property was the Turuk Family, while the buyer was MB Capital Asset Management ertzlMoezinia. The deal was facilitated by brokers Josh Goldflam, Jonathan Bichoupan, and the Highcap Group. This marks the third building on E. 199th St. that Josh Goldflam has sold.

Additional notes about the transaction include the fact that the Turuk Family had owned the property for 45 years before deciding to sell. The sale price represents a value of 12.6 times the rent roll and $175,000 per unit. In 2018, Jonathan Bichoupan had sold 143 units and 130,000 square feet of development in the Bronx.