Felice Belfiore pays $2.3M for 20-unit walkup in Mott Haven

Felice Belfiore through the entity 462 137th LLC paid $2.3 million to Edgar Casablanca through the entity 462 E. 137th St. LLC for the 20-unit residential walkup building (C1) at 462 East 137th Street in Mott Haven, Bronx. The expected use is cash flowing.
The deal closed on April 17, 2025 and was recorded on April 30, 2025. The property has 21,875 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $105 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 seller bought the property on April 2, 2009, for $1.2 million. The signatories for Edgar Casablanca were attorney Anthony Simari and Edgar Casablanca. The signatory for Felice Belfiore was Felice Belfiore. The contract date was August 30, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Felice Belfiore purchased one property in one transaction for a total of $1.2 million and has no record it sold any properties over the past 24 months.
The seller Edgar Casablanca 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 Edgar Casablanca, head officer and Rafael Garredo, site manager. The business entity is 462 East 137th St Llc. The 21,875-square-foot property generated revenue of $377,563 or $17 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 20 residential units in Mott Haven has 21,875 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,000 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.3 million. The property has 16 rent regulated units according to city tax records from 2023.

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 $310 in ECB penalties, nine housing violations, and $310 in OATH penalties 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 three of the 16 commercial properties representing 105,340 square feet of the 340,455 square feet. The largest owner is Steve Zervoudis, followed by Casablanca Management and then ABJ Properties.
There are no active new building construction projects on this tax block.

The majority, or 80 percent of the 340,455 square feet of built space are elevator buildings, with walkup buildings next occupying 16 percent of the space.

The buyer

The PincusCo database currently indicates that Felice Belfiore owned at least two commercial properties with 57 residential units in New York City with 39,780 square feet and a city-determined market value of $3.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Bronx.

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