Angela Gazivoda pays $2.7M for 36-unit rental in Wakefield

Angela Gazivoda through the entity 3929 Carpenter LLC paid $2.7 million to Dorothea Mazurek through the entity 3929 Carpenter Ave. LLC for the 36-unit residential elevator building (D1) at 3929 Carpenter Avenue in Wakefield, Bronx.
The deal closed on November 1, 2023 and was recorded on November 8, 2023. The property has 35,040 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $76 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 Dorothea Mazurek was Dorothea Mazurek. The signatory for Angela Gazivoda was Angela Gazivoda. The contract date was September 14, 2023. Angela Gazivoda is associated with Gazivoda Realty and Gazivoda Management.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Angela Gazivoda purchased two properties in two transactions for a total of $19.8 million and has no record it sold any properties over the past 24 months.
The seller Dorothea Mazurek had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Stephen Kaufman, head officer and Louis Popovic, agent. The business entities are Jlp Metro Management Inc and 3929 Carpenter Ave Llc (Stephen Kaufman Receiver).

The property

The residential elevator building with 36 residential units in Wakefield has 35,040 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 75 feet and is 100 feet deep with a total lot size of 7,501 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.1 million.

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 $7,500 in ECB penalties, 126 housing violations, $8,180 in OATH penalties, and one housing litigation 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 eight of the 10 commercial properties representing 278,343 square feet of the 317,658 square feet. The largest owner is Zachary Haring, followed by Stagg Group and then Residential Management (NY).
There are no active new building construction projects on this tax block.

The majority, or 95 percent of the 317,658 square feet of built space are elevator buildings, with walkup buildings next occupying 4 percent of the space.

The buyer

The PincusCo database currently indicates that Angela Gazivoda owned at least four commercial properties with 223 residential units in New York City with 212,220 square feet and a city-determined market value of $9.4 million. (Market value is typically about 50% of actual value.) The portfolio has $14.8 million in debt, borrowed from Ridgewood Savings Bank and Peapack-Gladstone Bank. Within the portfolio, the bulk, or 79 percent of the 212,220 square feet of built space are elevator properties, with walkup properties next occupying 21 percent of the space. The bulk, or 90 percent of the built space, is in Bronx, with Manhattan next at 10 percent of the space.

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