Heritage Affordable pays $8.2M to MacQuesten Properties for rental in Tremont

Heritage Affordable Communities through the entity 2120 Hughes LLC paid $8.2 million to MacQuesten Properties through the entity Hughes Avenue Crescent, L.P. for the 63-unit rental (D3) at 2120 Hughes Avenue in Tremont, Bronx.
The deal closed on August 26, 2021 and was recorded on September 13, 2021.
The property has 59,645 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $138 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 MacQuesten Properties was Rella Fogliano. The signatory for Heritage Affordable Communities was Alexander Hajibay.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Alexander Hajibay is the principal of Heritage Affordable Communities.
The former owners according to the Department of Housing Preservation and Development included Rella Fogliano, head officer and Jose Cabral, agent. The business entities were Hughes Avenue Crescent Lp and Hughes Avenue Crescent Lp.

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