Joel Wertzberger pays $6M to Zeqe Mehmetaj for multifamily property in Morrisania

Joel Wertzberger through the entity Boston Corner Crotona LLC paid Zeqe Mehmetaj’s 1394 B.P.R. Realty Corp. $6.1 million for 1384 Boston Road, 1390 Boston Road in Morrisania. The deal closed on October 4, 2019, and was recorded on November 6, 2019. The transaction consists of 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 34 residential units. The property is 15,489 square feet. The parcel(s) have total development potential of 30,752 square feet.
The sale price per unit is $177,941.
The estimated cap rate is 2.9%

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $131,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link