Miguel Luna, Miguel Garcia pay $9.9M for retail in Morris Park

Miguel Luna and Miguel Garcia through the entity M & M Np Realty LLC paid $9.9 million to Louis Lefkowitz Realty, Andrew J. Cohen, and Jonathan Halperin through the entity 1800 Williamsbridge LLC for the retail building (K1) at 1800 Williamsbridge Road in Morris Park, Bronx. The expected use is cash flowing.
The deal closed on October 3, 2025 and was recorded on October 21, 2025. The property has 13,488 square feet of built space and 12,600 square feet of additional air rights for a total buildable of 26,250 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $733 and the price per buildable square foot is $377 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 seller bought the property on January 14, 2014, for $1.8 million. The signatory for Louis Lefkowitz Realty , Andrew J. Cohen, and Jonathan Halperin was Michael E. Lefkowitz. The signatory for Miguel Luna and Miguel Garcia was Miguel Luna. The contract date was June 19, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Miguel Luna purchased two properties in two transactions for a total of $13.2 million and has no record it sold any properties over the past 24 months.
The seller Louis Lefkowitz Realty had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail building in Morris Park has 13,488 square feet of built space and 12,600 square feet of additional air rights for a total buildable of 26,250 square feet according to a PincusCo analysis of city data. The parcel has frontage of 350 feet and is 100 feet deep with a total lot size of 35,000 square feet. The zoning is R4A which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $7.8 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $5,535 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on April 17, 2014. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Morris Park, The majority, or 60 percent of the 8.8 million square feet of commercial built space are specialty buildings, with elevator buildings next occupying 19 percent of the space. In sales, Morris Park has the 26th highest sale turnover among other neighborhoods in Bronx with $49.7 million in sales volume in the last two years. For development, Morris Park has had very little major development activity relative to other neighborhoods.It had 57,757 square feet of commercial and multi-family construction under development in the last two years, which represents 0.65 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the five commercial properties representing 13,488 square feet of the 23,528 square feet. The identified owner is Jonathan Halperin.
There are no active new building construction projects on this tax block.

The majority, or 72 percent of the 23,528 square feet of built space are retail buildings, with office buildings next occupying 17 percent of the space.

The seller

The PincusCo database currently indicates that Jonathan Halperin owned at least one commercial property in New York City with 13,488 square feet and a city-determined market value of $5.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Bronx.
The PincusCo database currently indicates that Andrew J. Cohen owned at least one commercial property in New York City with 13,488 square feet and a city-determined market value of $5.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Bronx.

The buyer

The PincusCo database currently indicates that Miguel Luna owned at least four commercial properties in New York City with 38,641 square feet and a city-determined market value of $12.8 million. (Market value is typically about 50% of actual value.) The portfolio has $11.1 million in debt, borrowed from Bank of Hope. Within the portfolio, all identified are retail properties. The bulk, or 76 percent of the built space, is in Bronx, with Manhattan next at 24 percent of the space.

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