Niman Rugova pays $5.2M for 38-unit rental in Riverdale

Niman Rugova through the entity 3405 Kossuth LLC paid $5.2 million to David Katz and Alan Laytner through the entity 3405 Kossuth Associates, L.L.C. for 38-unit rental (C1) at 3405 Kossuth Avenue in Riverdale, Bronx.
The deal closed on July 12, 2021 and was recorded on July 26, 2021.
The property has 35,455 square feet of built space and 0 square feet of additional air rights for a total buildable of 25,800 square feet according to PincusCo analysis of city data. The sale price per built square foot is $145 per the PincusCo analysis.
The signatory for David Katz and Alan Laytner was David Katz and Alan Laytner. The signatory for Niman Rugova was Niman Rugova.
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 former owners according to the Department of Housing Preservation and Development included David Katz, head officer and Alan Laytner, shareholder. The business entities were Leor Mgmt Corp and 3405 Kossuth Associates, L.L.C.
Within a 400-foot radius of 3405 Kossuth Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $12.3 million. The most recent of the two was Rrustem Gecaj which borrowed $7.2 million from Signature Bank secured by the 65,000-square-foot, 66-unit rental (C7) on 3424 Dekalb Avenue on July 29, 2020.

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