Aaron Maleh Purchases 20-Unit Multifamily Building From Mary Baker For $1.4M In Bronx

The transaction involved a multifamily asset located at 378 East 139th Street in the Bronx. The sale price was $1,400,000 for a property comprising 20 units. The total square footage is 18,705, resulting in a price per unit of $70,000 and a price per square foot of $74. The properties are identified as two adjacent, distressed 10-family walk-up buildings, which were fully rent stabilized and required substantial structural repairs.

The broker representing the transaction was DJ Johnston from Matthews. The properties were lender-owned and carried significant arrears, which added complexity to the transaction. A comprehensive case study outlining the transaction's complexities and the solutions implemented is available upon request.