Gzim Celaj pays $5.4M for 60-unit rental in Kingsbridge Heights

Gzim Celaj through the entity 2785 University Owners LLC paid $5.4 million to the entity 2785 University Corp. for the 60-unit residential elevator building (D1) at 2785 University Avenue in Kingsbridge Heights, Bronx. The expected use is cash flowing.
The deal closed on April 30, 2025 and was recorded on May 8, 2025. The property has 78,300 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $68 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 the seller was Nina Shenker. The signatory for Gzim Celaj was Gzim Celaj. The contract date was October 11, 2024.

Rosewood Realty Group’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs brokered the transaction.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Gzim Celaj purchased one property in one transaction for a total of $2.5 million and has no record it sold any properties over the past 24 months.
The former owners according to the Department of Housing Preservation and Development includes Edith Oppenheiner, head officer and Rolando Diaz, site manager. The business entity is 2785 University Corp. The 78,300-square-foot property generated revenue of $909,846 or $12 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 60 residential units in Kingsbridge Heights has 78,300 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 150 feet and is 100 feet deep with a total lot size of 15,000 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 $2.8 million. The property has 59 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 one DOB violation, $1,250 in ECB penalties, 31 housing violations, and $2,750 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 20 of the 31 commercial properties representing 838,000 square feet of the 1,229,736 square feet. The largest owner is Related Companies, followed by Genesis Realty Group and then Tricap.
There are no active new building construction projects on this tax block.

The majority, or 65 percent of the 1.2 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 Gzim Celaj owned at least two commercial properties with 60 residential units in New York City with 55,890 square feet and a city-determined market value of $2.3 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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