Denali Management pays $5.1M to Diamond Property Group for rental in Concourse

Denali Management through the entity 115 E 169 LLC paid $5.1 million to Diamond Property Group through the entity 115 E. 169 Realty, L.L.C. for 38-unit rental (D1) at 115 East 169th Street in Concourse, Bronx.
The deal closed on November 18, 2021 and was recorded on December 8, 2021.
The property has 36,700 square feet of built space and 13,982 square feet of additional air rights for a total buildable of 50,706 square feet according to PincusCo analysis of city data. The sale price per built square foot is $139 and the price per buildable square foot is $100 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 Diamond Property Group was David T. Diamond. The signatory for Denali Management was Jonathan Wiener.

The former owners according to the Department of Housing Preservation and Development included David Diamond, head officer and David Cohen, agent. The business entities were 115 East 169 Realty Llc and 115 East 169 Realty Llc.
Within a 400-foot radius of 115 East 169th Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, four were loans above $5 million totaling $97 million. The most recent of the four was Atlantic Development Group which borrowed $7.6 million from JLL secured by the 56,291-square-foot, 64-unit rental (D1) on 128 East Clarke Place on October 1, 2021.

Direct link to Acris document. link