Gazivoda Realty pays $4.3M for 67-unit rental in Mt Hope

Gazivoda Realty through the entity 1860 Morris LLC paid $4.3 million to Gary Perlow and Amy Chasin through the entity 1860 Morris Associates for the 67-unit residential elevator building (D1) at 1860 Morris Avenue in Mt Hope, Bronx. The expected use is cash flowing.
The deal closed on February 27, 2026 and was recorded on March 4, 2026. The property has 66,550 square feet of built space and 24,694 square feet of additional air rights for a total buildable of 91,203 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $64 and the price per buildable square foot is $47 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 Gary Perlow and Amy Chasin was Gary Perlow and Amy Chasin. The signatory for Gazivoda Realty was Angela Gazivoda . The contract date was December 4, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Gazivoda Realty purchased five properties in five transactions for a total of $23.2 million and sold one property in one transaction for a total of $3.3 million over the past 24 months.
The seller Gary Perlow 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 Alan Alkoff, head officer and Amy Chasin, officer. The business entities are Annal Management Co., Ltd. and 1860 Morris Associates. The 66,550-square-foot property generated revenue of $989,071 or $15 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 67 residential units in Mt Hope has 66,550 square feet of built space and 24,694 square feet of additional air rights for a total buildable of 91,203 square feet according to a PincusCo analysis of city data. The parcel has frontage of 150 feet and is 101 feet deep with a total lot size of 15,150 square feet. 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 $2.3 million. The property has 69 rent regulated units according to city tax records from 2024.

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 $50 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 12 of the 16 commercial properties representing 376,025 square feet of the 504,375 square feet. The largest owner is Mount Hope Housing Company, followed by Ved Parkash and then Finkelstein Timberger East Real Estate.
On the tax block, there were four new building construction projects totaling 152,472 square feet. The largest is a 90-unit, 56,600 square-foot residential (R-2) building submitted by Postgraduate Center for Mental Health and filed by Jacob Barak with plans filed March 1, 2019 and it has not been permitted yet. The second largest is a 78-unit, 55,987 square-foot residential (R-2) building submitted by Postgraduate Center for Mental Health and filed by Jacob Barak with plans filed November 19, 2021 and permitted December 13, 2022.

The majority, or 91 percent of the 504,375 square feet of built space are elevator buildings, with walkup buildings next occupying 8 percent of the space.

The buyer

The PincusCo database currently indicates that Gazivoda Realty owned at least six commercial properties with 275 residential units in New York City with 278,771 square feet and a city-determined market value of $14.8 million. (Market value is typically about 50% of actual value.) The portfolio has $6.8 million in debt, borrowed from JPMorgan Chase. Within the portfolio, the bulk, or 63 percent of the 278,771 square feet of built space are elevator properties, with walkup properties next occupying 37 percent of the space. They are all located in Bronx.

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