Mendel Kaff pays $4.7M to Related Companies for property in Soundview

Mendel Kaff through the entity Watson Development, LLC paid Related Companies’ NYSandy12 Cbp9 LLC $4.7 million for 1466 Watson Avenue in Soundview, the Bronx. The deal closed on December 16, 2020 and was recorded on December 22, 2020. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 48 residential units. The property is 52,800 square feet.
The sale price per unit is $97,917.

The contract date was December 24, 2019. The last time the property sold was December 22, 2015 in a portfolio that traded for $27,000,000. Kaff purchased other Related Companies’ properties in July.

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