Simone Development pays $32M to Triangle Equities for four buildings in Mott Haven

Simone Development Companies through the entity 459 East 149 Street Realty LLC paid $32 million to Triangle Equities through the entity Triangle Plaza Hub LLC for property at 459 East 149th Street in Mott Haven, Bronx, property at 459 East 149th Street in Mott Haven, Bronx, and property at 459 East 149th Street in Mott Haven, Bronx.
The deal closed on January 13, 2022 and was recorded on February 7, 2022.
The four properties have 55,295 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $578 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 Triangle Equities was Evan Petracca. The signatory for Simone Development Companies was Joseph Simone.

(220150869)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on August 10, 2015.
Evan Petracca is CEO of Triangle Equities. Joe Simone is President of Simone Development Companies.
On the tax block, the majority, or 100 percent of the 177,094 square feet of built space are mixed-use buildings, with development buildings next occupying 0 percent of the space.
Within a 400-foot radius of 459 East 149th Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, two were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $1.5 million. The most recent of these two items was the filing on December 6, 2021 for a 27,322-square-foot B building with 0 residential units at 448 East 149th Street.
One of those three items was a loan which Joanne Passaro borrowed $5.6 million from Nonprofit Finance Fund secured by one condo unit in the 26,041-square-foot, five-unit mixed-use building (RC) on 459 East 149th Street on January 14, 2021.

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