Ben Rieder Acquires Mott Haven Multifamily Property For $7.5M

The multifamily property located at 518 East 138 Street & 514 EAST 138 STREET in Mott Haven has been sold for a total price of $7,500,000. The property consists of 9,477 square feet with a price per square foot of $791. The total square footage of the property is 15,678, resulting in a price per square foot of $478. The lot size is 3,900 square feet, with a lot dimension of 39 ft x 100 ft. The last recorded sale of the property was on May 17, 2007, for a price of $3,500,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,500,000
• Market: Mott Haven
• Zoning: R6, C1-4
• Square Footage: 9,477 (BSF), 15,678 (SF)
• Price per Square Foot: $791 (BSF), $478 (SF)
• Lot Size: 3,900 sq ft
• Last Sale Price: $3,500,000 (5/17/2007)
• Lot Dimension: 39 ft x 100 ft

The buyer in this transaction is Ben Rieder, while the seller is Martin Kirzner. The FAR (Floor Area Ratio) for the property is 4.02, and the tax class is 2.