Michael Lajqi Acquires Multifamily Property In Pelham Bay For $5.8M

The multifamily property located at 2955 East 196th Street in Pelham Bay was recently sold for a total price of $5,800,000. The transaction took place on May 25, 2021, and involved a total of 37 units. The price per unit was calculated to be $157,000, and the property spans across 35,000 square feet, resulting in a price per square foot of $166. The Gross Rent Multiplier (GRM) for this transaction was 9.2x, and the Capitalization Rate (CAP) was 5.3%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,800,000
• Address: 2955 East 196th Street
• Market: Pelham Bay
• Units: 37
• Price per Unit (PPU): $157,000
• Square Footage (SF): 35,000
• Price per Square Foot (PPSF): $166
• Gross Rent Multiplier (GRM): 9.2x
• Capitalization Rate (CAP): 5.3%

Michael Lajqi was the buyer in this transaction, while Ralph Della Cava served as the seller. The deal was facilitated by brokers Amit Doshi and Shallini Mehra from Meridian Capital Group, representing the buyer and the seller respectively.