Pale Cotaj Acquires 49-Unit Multifamily Building In Wakefield, Bronx From Morgan Group For $6.2M

Pale Cotaj has purchased a residential elevator building in Wakefield, Bronx, for $6.2 million from Morgan Group. The property, located at 4254 Carpenter Avenue, comprises 49 units and offers 42,294 square feet of built space. The transaction took place on June 13, 2023.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,250,000
• Units: 49
• Price Per Unit (PPU): $125,551
• Square Footage (SF): 42,294
• Price Per Square Foot (PPSF): $148

Pale Cotaj, the buyer, acquired the property from Morgan Group, represented by Scott Morgan. The sale of the residential elevator building at 4254 Carpenter Avenue marks a significant transaction in the Wakefield, Bronx market.