Mr. Mehmetaj Acquires Multifamily Property In Bedford Park, Bronx For $7.5M

The multifamily property located at 5 East 196th Street in Bedford Park, Bronx has been sold in a closed transaction. The property, with a total area of 51,896 square feet, was purchased for a sale price of $7,500,000. The price per square foot comes out to be $145. The building consists of 50 units, making the price per unit $150,000. The gross rent multiplier (GRM) for the property is 10x. It's worth mentioning that this property is an elevator building.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,500,000
• Address: 5 East 196th Street
• Market: Bedford Park, Bronx
• Square Footage: 51,896
• Price Per Square Foot: $145
• Number of Units: 50
• Price Per Unit: $150,000
• Gross Rent Multiplier (GRM): 10x

The sale of this multifamily property was facilitated by Nadeem Haque from Friedman Roth, representing the seller Stuart Morgan, and Guiseppe Inglese from Friedman Roth, representing the buyer Mr. Mehmetaj.