Gil Treger pays $9.5M to Miller & Miller for 113-unit rental in Fordham Manor

Gil Treger through the entity Sagaponack1, LLC paid $9.5 million to Miller & Miller Real Estate through the entity Millshan Realty Co., LLC for the 113-unit residential elevator building (D6) at 2665 Grand Concourse in Fordham Manor, Bronx. The expected use is cash flowing.
The deal closed on September 17, 2025 and was recorded on September 19, 2025. The property has 150,000 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $63 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 Miller & Miller Real Estate was Robert L. Miller . The signatory for Gil Treger was Gil Treger. The contract date was July 16, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Gil Treger had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Miller & Miller Real Estate had not purchased any other properties and sold one property in one transaction for a total of $7.5 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Donald Miller, head officer and Nancy Michaels, officer. The business entities are B & R Management Co. Llc and Millshan Realty Co Llc. The 150,000-square-foot property generated revenue of $1.6 million or $10 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 113 residential units in Fordham Manor has 150,000 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 145 feet and is 156 feet deep with a total lot size of 22,120 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 $4.5 million. JPMorgan Chase on December 17, 2021 bought a loan with an original principal of from signed by Robert L. Miller, secured by 2665 Grand Concourse, when owned by Miller & Miller Real Estate. The property has 114 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 six housing violations and $6,600 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 nine of the 11 commercial properties representing 513,915 square feet of the 544,441 square feet. The largest owner is Genesis Realty Group, followed by Robert Miller and then Goldberg Family (5600a).
On the tax block, there were three new building construction projects totaling 131,529 square feet. The largest is a 73-unit, 49,654 square-foot residential (R-2) building submitted by Spaxel and filed by Shkumbin Selimaj with plans filed March 1, 2021 and permitted July 13, 2023. The second largest is a 76-unit, 48,095 square-foot residential (R-2) building submitted by VAJA Group and filed by Moses Freund with plans filed April 11, 2025 and it has not been permitted yet.

The majority, or 87 percent of the 544,441 square feet of built space are elevator buildings, with walkup buildings next occupying 12 percent of the space.

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