Israel Cohen pays $8.1M to Hysen Mehmetaj for rental in Highbridge

Israel Cohen through the entity Billingsley LLC paid $8.1 million to Hysen Mehmetaj through the entity 1860 Equities LLC for 59-unit rental (D1) at 1860 Billingsley Terrace in Highbridge, Bronx.
The deal closed on June 9, 2021 and was recorded on June 23, 2021.
The property has 64,614 square feet of built space and 0 square feet of additional air rights for a total buildable of 15,875 square feet according to PincusCo analysis of city data. The sale price per built square foot is $124 per the PincusCo analysis.
The owner bought the property on 18-Feb-20, for $8.2 million.
The signatory for Hysen Mehmetaj was Hysen Mehmetaj. The signatory for Israel Cohen was Israel Cohen.
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.
The contract date was February 12, 2021.
The former owners according to the Department of Housing Preservation and Development included Hysen Mehmetaj, head officer and Raul Carrion, site manager. The business entity was 1860 Equities Llc.
Within a 400-foot radius of 1860 Billingsley Terrace, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $33.9 million. The most recent of the two was Benzion Wachsman which borrowed $25.9 million from New York Community Bank secured by the 42,372-square-foot, 43-unit rental (D1) on 1820 Phelan Place and seven other properties on November 2, 2020.

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