Prana pays $4.4M for rental in Morrisania

Prana Investments through the entity 899 E. 169th St. LLC paid $4.4 million to Steven Satz through his 1929 Andrews Avenue LLC for the 34-unit rental (C7) at 899 East 169th Street in Morrisania, Bronx.
The deal closed on August 13, 2021 and was recorded on August 25, 2021.
The property has 23,400 square feet of built space and 0 square feet of additional air rights for a total buildable of 15,713 square feet according to PincusCo analysis of city data. The sale price per built square foot is $188 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.)

Sally Collazo, the signatory for the buyer, is with Prana.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $389,050.
The former owners according to the Department of Housing Preservation and Development included Steve Satz, head officer and Lewis Rosenthal, agent. The business entities were Alden Property Services Inc and 2287 Loring Llc.

Within a 400-foot radius of 899 East 169th Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which MHANY borrowed $15.2 million from Community Preservation Corporation secured by the 22,000-square-foot, 20-unit rental (C7) on 1158 Intervale Avenue and five other properties on May 11, 2021.

Direct link to Acris document. link