Denali Management pays $7.5M to Sharp Management for two rentals in Mott Haven

Denali Management through the entity 514-518 E 138 LLC paid $7.5 million to Sharp Management through the entity Gates Place LLC for 23-unit rental (C7) at 514 East 138th Street in Mott Haven, Bronx and 23-unit rental (C7) at 518 East 138th Street in Mott Haven, Bronx.
The deal closed on September 24, 2021 and was recorded on October 6, 2021.
The two properties have 31,332 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $239 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 Sharp Management was Martin Kirzner. The signatory for Denali Management was Ben Rieder.

The former owners according to the Department of Housing Preservation and Development included Martin Kirzner, head officer and Janitza Jimenez, agent. The business entity was Sobro Sharp Llc.

Within a 400-foot radius of 514 East 138th Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
One of those three items was a sale which Son Dinh Tran bought the 23,329-square-foot, 30-unit rental (C7) on 260 Brook Avenue for $5.0 million from Jonathan Moinian on February 2, 2021.
Of those three items, two were loans above $5 million totaling $94.7 million. The most recent of the two was Neighborhood Restore which borrowed $79.7 million from New York City Department of Housing Preservation and Development secured by the 9,700-square-foot, 10-unit rental (C7) on 492 East 138th Street and 15 other properties on February 19, 2020.

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