Feil Organization pays $9.8M to Midwood Investment for three properties in Bronx

The Feil Organization through the entity Feil Riverdale LLC paid $9.8 million to Midwood Investment & Development through the entity Falu LLC for the office building (O7) at 3510 Johnson Avenue in Spuyten Duyvil, Bronx, retail building (K7) at 3508 Johnson Avenue in Spuyten Duyvil, Bronx, and office building (O7) at 549 West 235th Street in Spuyten Duyvil, Bronx.
The deal closed on August 5, 2021 and was recorded on August 18, 2021.
The three properties have 6,724 square feet of built space and 15,882 square feet of additional air rights for a total buildable of 22,593 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,461 and the price per buildable square foot is $435 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 Midwood Investment & Development was John Usdan. The signatory for Feil Organization was Jeffrey J. Feil.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Midwood signed a contract to sell the building May 6, 2021.

Within a 400-foot radius of 3510 Johnson Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Samson Management borrowed $7.4 million from Capital One secured by the 72,553-square-foot, 57-unit rental (D1) on 3555 Oxford Avenue on January 27, 2020.

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