MZS Realty pays $2.1M for dev site in Concourse Village

MZS Realty through the entity Mor 882 LLC paid $2.1 million to Shirong Dong through the entity 882 Morris LLC for the development site (V1) at 882 Morris Avenue in Concourse Village, Bronx. The expected use is ground up development.

On the lot, there is one active new building construction project, X01104975, for a 28-unit, 18,890 square-foot residential (R-2) building. The project was submitted by MZS Realty and filed by Shaya Seidenfeld with plans filed October 1, 2024 and it has not been permitted yet.
The deal closed on October 21, 2025 and was recorded on October 24, 2025. The property has zero square feet of built space and 21,070 square feet of additional air rights for a total buildable of 21,070 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $98 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 July 14, 2015, for $800,000. The signatory for Shirong Dong was Shirong Dong. The signatory for MZS Realty was Shaya Seidenfeld . The contract date was May 21, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer MZS Realty purchased three properties in two transactions for a total of $6.8 million and has no record it sold any properties over the past 24 months.
The seller Shirong Dong had not purchased any other properties and had not sold any properties over the same time period.

The property

The parcel has frontage of 35 feet and is 100 feet deep with a total lot size of 3,500 square feet. The zoning is R8A which allows for up to 6.02 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $287,000.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $1.9 million money judgment concerning a contract filed on October 14, 2024, by Shaya Seidenfeld against Shi Rong Dong. In addition, according to city public data, the property has received $1,230 in OATH penalties in the last year.

The neighborhood

In Concourse Village, The bulk, or 39 percent of the 17.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Concourse Village has had very little sales volume relative to other neighborhoods with $105.4 million in sales volume in the last two years. For development, Concourse Village has 1.3 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Bronx. It had 1.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 20 commercial properties representing 87,192 square feet of the 238,313 square feet. The largest owner is Joseph Rosenberg, followed by Diamond Property Management and then Gjovan Rroku.
On the tax block, there were two new building construction projects totaling 39,162 square feet. The largest is a 38-unit, 20,272 square-foot residential (R-2) building submitted by Gjovan Rroku and filed by Gjovan Rroku with plans filed July 5, 2024 and it has not been permitted yet. The second largest is a 28-unit, 18,890 square-foot residential (R-2) building submitted by MZS Realty and filed by Shaya Seidenfeld with plans filed October 1, 2024 and it has not been permitted yet.

The majority, or 63 percent of the 238,313 square feet of built space are walkup buildings, with elevator buildings next occupying 22 percent of the space.

The buyer

The PincusCo database currently indicates that MZS Realty owned at least six commercial properties with 36 residential units in New York City with 25,945 square feet and a city-determined market value of $3.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 62 percent of the 25,945 square feet of built space are walkup properties, with C0 properties next occupying 28 percent of the space. They are all located in Bronx.

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