Benjamin Yunatanov inks ground lease valued at $2.9M for mixed-use building in Belmont

Benjamin Yunatanov through the entity 608 E Fordham LLC as tenant signed a ground lease valued at $2.9 million with Ester Zerembski through the entity A.M.E.T.Z. Corp. as landlord for the mixed-use building (K4) at 608-618 East Fordham Road in Belmont/Little Italy, Bronx. This is a 99-year ground lease dated August 21, 2020.
The deal closed on October 20, 2021 and was recorded on November 22, 2021.
The property has 17,932 square feet of built space and 31,656 square feet of additional air rights for a total buildable of 49,610 square feet according to PincusCo analysis of city data. The sale price per built square foot is $161 and the price per buildable square foot is $58 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 Ester Zerembski was Ester Zerembski. The signatory for Benjamin Yunatanov was Benjamin Yunatanov.
(201037724)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on February 12, 2015.

Within a 400-foot radius of 608-618 East Fordham Road, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Klosed Properties borrowed $5.4 million from New York Community Bank secured by the 14,400-square-foot, 21-unit rental (C1) on 2503 Hughes Avenue on August 26, 2020.

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