Nasser Ghorchian pays $3M to Ronald Haddad for retail in Kingsbridge

Nasser Ghorchian through the entity 216-222 West 242 St LLC paid $3 million to Ronald Haddad through the entity 242 Broadway Realty,L.L.C. for retail building (K1) at 216 West 242nd Street in Kingsbridge, Bronx.
The deal closed on October 28, 2021 and was recorded on November 16, 2021.
The property has 4,590 square feet of built space and 11,281 square feet of additional air rights for a total buildable of 15,846 square feet according to PincusCo analysis of city data. The sale price per built square foot is $653 and the price per buildable square foot is $189 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 Ronald Haddad was Ronald Haddad. The signatory for Nasser Ghorchian was Michael King.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
The contract date was February 6, 2020.
Within a 400-foot radius of 216 West 242nd Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
One of those two items was a sale which Douglas Peterson’s City Skyline Realty bought the 61,500-square-foot, 61-unit rental (C1) on 226 West 242nd Street for $9.7 million from Dawn Pohl on March 3, 2020.
One of those two items was a loan which City Skyline Realty borrowed $7.2 million from Signature Bank secured by the 61,500-square-foot, 61-unit rental (C1) on 226 West 242nd Street on March 3, 2020.

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