Lev Mavashev pays $2M for 13-unit walkup in Belmont

Lev Mavashev through the entity Alpha Jacksonville Holdings LLC paid $2 million to Scott Ranani through the entity Wenani Realty Corp for the 13-unit residential walkup building (C1) at 2302 Beaumont Avenue in Belmont, Bronx.
The deal closed on January 9, 2023 and was recorded on January 17, 2023. The property has 12,325 square feet of built space and 561 square feet of additional air rights for a total buildable of 12,872 square feet according to PincusCo analysis of city data. The sale price per built square foot is $162 and the price per buildable square foot is $155 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 Scott Ranani was Scott Ranani. The signatory for Lev Mavashev was Lev Mavashev. Lev Mavashev is founder and principal of the brokerage Alpha Realty.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Lev Mavashev had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Scott Ranani had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Sam Ranani, head officer and Alex Sosa, site manager. The business entity is Wenani Realty Corp. The 12,325-square-foot property generated revenue of $270,650 or $22 per square foot, according to the most recent income and expense figures.

The property

The 2302 Beaumont Avenue parcel has frontage of 37 feet and is 100 feet deep with a total lot size of 3,742 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $776,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property since September of 2020. In addition, according to city public data, the property has received $1,600 in ECB penalties, 16 housing violations, and $1,700 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of eight of the 22 commercial properties representing 106,980 square feet of the 279,777 square feet. The largest owner is Sefkija Markovic, followed by Renaissance Realty Group and then Celeste Properties Inc..
On the tax block, there were two new building construction projects totaling 32,270 square feet. The largest is a 24-unit, 21,121-square-foot R-2 building developed by John Colangelo with plans filed October 24, 2017 and it has not been permitted yet.The second largest is a zero-unit, 11,149-square-foot M building developed by Armand Paganelli with plans filed September 19, 2022 and it has not been permitted yet.

The majority, or 78 percent of the 279,777 square feet of built space are walkup buildings, with elevator buildings next occupying 18 percent of the space.

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