Nedzad Kolenovic pays $3.2M for 43-unit rental in Bedford Park

Nedzad Kolenovic through the entity 227 E 203 Realty LLC paid $3.2 million to Beryl Shaw, Fradel Kaplan, and Harvey Wolinetz through the entity Bps 203 Realty LLC for the 43-unit residential elevator building (D1) at 227 East 203rd Street in Bedford Park, Bronx. The expected use is cash flowing.
According to tax records, all the units are rent-regulated.
The deal closed on July 31, 2025 and was recorded on August 12, 2025. The property has 50,762 square feet of built space and 13,563 square feet of additional air rights for a total buildable of 64,293 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $63 and the price per buildable square foot is $49 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 Beryl Shaw, Fradel Kaplan, and Harvey Wolinetz was Beryl Shaw, Fradel Kaplan, and Harvey Wolinetz. The signatory for Nedzad Kolenovic was Nedzad Kolenovic. The contract date was February 27, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Nedzad Kolenovic purchased one property in one transaction for a total of $5.2 million and has no record it sold any properties over the past 24 months.
The seller Beryl Shaw had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Victor Fein, head officer. The business entity is Bps 203 Realty Llc. The 50,762-square-foot property generated revenue of $652,780 or $13 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 43 residential units in Bedford Park has 50,762 square feet of built space and 13,563 square feet of additional air rights for a total buildable of 64,293 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,680 square feet. The lot is irregular. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.1 million. The property has 43 rent regulated units according to city tax records from 2022.

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 six housing violations and $2,600 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of eight of the 25 commercial properties representing 237,699 square feet of the 451,540 square feet. The largest owner is Housing And Services Inc., followed by Franco Sukaj and then Karen Saar.
On the tax block, there were five new building construction projects totaling 238,774 square feet. The largest is a 87,140 square-foot educational (E) building submitted by Atlantic Development Group and filed by Peter Fine with plans filed November 16, 2021 and permitted July 1, 2022. The second largest is a 108-unit, 71,133 square-foot residential (R-2) building submitted by Housing and Services and filed by James Dill with plans filed September 10, 2018 and permitted September 23, 2019.

The majority, or 77 percent of the 451,540 square feet of built space are elevator buildings, with walkup buildings next occupying 17 percent of the space.

The buyer

The PincusCo database currently indicates that Nedzad Kolenovic owned at least six commercial properties with 226 residential units in New York City with 243,374 square feet and a city-determined market value of $10.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 95 percent of the 243,374 square feet of built space are elevator properties, with walkup properties next occupying 5 percent of the space. They are all located in Bronx.

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