Franco Sukaj pays $4.1M for likely dev site in Bedford Park

Franco Sukaj and Nush Sukaj through the entity 2868 Jerome LLC paid $4.1 million to Heavenly Vision Christian Center for the church building (M1) at 2868 Jerome Avenue in Bedford Park, Bronx. The expected use is ground up development.
The deal closed on September 29, 2025 and was recorded on October 8, 2025. The property has 4,600 square feet of built space and 29,514 square feet of additional air rights for a total buildable of 34,103 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $891 and the price per buildable square foot is $120 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 Heavenly Vision Christian Center was Salvatore Sabino. The signatory for Franco Sukaj and Nush Sukaj was Franco Sukaj. The contract date was December 6, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Franco Sukaj purchased two properties in two transactions for a total of $7 million and sold two properties in one transaction for a total of $5.8 million over the past 24 months.
The seller Heavenly Vision Christian Center had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Bedford Park has 4,600 square feet of built space and 29,514 square feet of additional air rights for a total buildable of 34,103 square feet according to a PincusCo analysis of city data. The parcel has frontage of 56 feet and is 108 feet deep with a total lot size of 5,665 square feet. The lot is irregular. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $754,000.

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 $100 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 neighborhood

In Bedford Park, The bulk, or 49 percent of the 20.3 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, Bedford Park has had very little sales volume relative to other neighborhoods with $159.6 million in sales volume in the last two years. For development, Bedford Park has had very little major development activity relative to other neighborhoods.It had 844,425 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 13 of the 23 commercial properties representing 567,657 square feet of the 1,030,014 square feet. The largest owner is Shaban Mehaj, followed by Vilson Lumaj and then Miller Management.
On the tax block, there were four new building construction projects totaling 261,429 square feet. The largest is a 116-unit, 149,137 square-foot residential (R-2) building submitted by Project Renewal and filed by Eric Rosenbaum with plans filed June 28, 2019 and permitted December 29, 2022. The second largest is a 64-unit, 64,040 square-foot residential (R-2) building submitted by Mirza Rahman and filed by Mirza Rahman with plans filed December 2, 2021 and permitted December 9, 2024.

The majority, or 64 percent of the 1 million square feet of built space are elevator buildings, with walkup buildings next occupying 35 percent of the space.

The buyer

The PincusCo database currently indicates that Franco Sukaj owned at least 10 commercial properties with 312 residential units in New York City with 174,566 square feet and a city-determined market value of $19.4 million. (Market value is typically about 50% of actual value.) The portfolio has $38.8 million in debt, with top three lenders as Greystone & Co., Wells Fargo, and Ponce Bank respectively. Within the portfolio, the bulk, or 71 percent of the 174,566 square feet of built space are elevator properties, with retail properties next occupying 15 percent of the space. They are all located in Bronx.
The PincusCo database currently indicates that Nush Sukaj owned at least two commercial properties with 46 residential units in New York City with 44,145 square feet and a city-determined market value of $3.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 77 percent of the 44,145 square feet of built space are elevator properties, with retail properties next occupying 23 percent of the space. They are all located in Bronx.

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