Maddd Equities pays $10.8M to WRA Properties for retail in East Harlem

Jorge Madruga’s Maddd Equities through the entity Bruckner 125Th Street LLC paid WRA Properties’s Lexington 125, LLC $10.8 million for 132 East 125th Street in East Harlem. The deal closed on March 15, 2021 and was recorded on March 26, 2021. The transaction consists of 1 parcel, including the tax class two-story or store and office (K2). The property is 6,594 square feet. The parcel(s) have total development potential of 6,594 square feet.

The contract date is December 18, 2020. The seller was WRA Properties, headed by Frank T. Chiarello. Principals.html Maddd also paid $2.8 million for air rights from Charles Gammal care of Alex Adjmi’s ACHS Management.
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 $10,000.

Direct link to Acris document. link