Klosed Properties, Namdar Realty Group pay $5.5M for 22 units in Tremont

Klosed Properties and Namdar Realty Group through the entity 558 E191 BH LLC (and another) paid Michael Giacinto’s 558 East 191 Street Inc $5.5 million for 558 East 191st Street in Tremont. The deal closed on September 1, 2020, and was recorded on September 9, 2020. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 22 residential units. The property is 17,500 square feet. The parcel(s) have total development potential of 17,500 square feet.
The sale price per unit is $250,000.

The contract date was June 16, 2020. Klosed acquired 30 percent and Namdar 70 percent of the tenant-in-common interest.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Steve Kashanian