7-unit walkup in Mott Haven sells for $2.3M

Hillel Chanan Fried through the entity HM Properties Ny LLC paid $2.3 million to Scott Kalb through the entity R & L Contracting Corp for the seven-unit residential walkup building (C7) at 322 E 141th Street in Mott Haven, Bronx. The expected use is cash flowing.
The deal closed on February 13, 2025 and was recorded on February 21, 2025. The property has 9,340 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $244 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Scott Kalb was Alan Kapson. The signatory for Hillel Chanan Fried was Hillel Chanan Fried. The contract date was September 10, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Hillel Chanan Fried had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Scott Kalb purchased one property in one transaction for a total of $1.1 million and sold three properties in three transactions for a total of $6.1 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Scott Kalb, head officer and Paul Goodman, officer. The business entity is R & L Contracting Corp.

The property

The residential walkup building with 7 residential units in Mott Haven has 9,340 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 75 feet deep with a total lot size of 1,875 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.5 million. The property has 5 rent regulated units according to city tax records from 2022.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation, 15 housing violations, and $500 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of five of the 20 commercial properties representing 30,205 square feet of the 144,029 square feet. The largest owner is Robert Rosenberg, followed by Alex Garcia and then Steve Zervoudis.
There are no active new building construction projects on this tax block.

The majority, or 42 percent of the 144,029 square feet of built space are walkup buildings, with mixed-use buildings next occupying 22 percent of the space.

The seller

The PincusCo database currently indicates that Scott Kalb owned at least one commercial property with two residential units in New York City with 3,560 square feet and a city-determined market value of $753,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Bronx.

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