Prana Investments pays $7M to Elizabeth Crane of Rosedale Management for multifamily property in Soundview

Prana Investments through the entity 1491-1493 Watson Ave. LLC paid Elizabeth Crane of Rosedale Management as signatory’s AF&G Realty Associates, LLC $7.1 million for 1491 Watson Avenue in Soundview. The deal closed on February 6, 2020, and was recorded on February 14, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 60 residential units. The property is 50,700 square feet. The parcel(s) have total development potential of 50,700 square feet.
The sale price per unit is $118,333.

The last time the property sold was December 27, 2012, for $7,707,911.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $74,835.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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