Langsam Property Services pays $3.3M to Newport Partners for stake in Tremont properties

Langsam Property Services through the entity Crotona 1382 LLC paid Newport Partners’s Multistate LIHTC Holdings II, L.P. $3.3 million for an interest in 1382 Crotona Avenue, 1394 Crotona Avenue, 670 East 170th Street, 675 East 170th Street in Tremont. The deal closed on April 30, 2020, and was recorded on May 19, 2020. The transaction consists of 4 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 89 residential units.
The sale price per unit is $36,715.

The sale was for an interest in the property, it was not a deed transfer.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $213,116.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link