Son Dinh Tran pays $14M to Wong family for 3 Manhattan rentals with 46 units

Son Dinh Tran paid $14 million to the Wong family for three Manhattan rental buildings with a total of 46 units in three separate transactions. At the same time, Tran borrowed $10.5 million from Tital Capital to finance the acquisition.

The properties are the 16-unit rental (C7) at 147 East 118th Street in East Harlem, Manhattan, the 12-unit rental (C7) at 175 Third Avenue in Gramercy, Manhattan, and the 18-unit rental (C7) at 532 Ninth Avenue in Hudson Yards, Manhattan.

In the first transaction, Son Dinh Tran through the entity 175 Third Ave LLC paid $6 million to Eleben Yau Mei Wong through the entity Eleben Yau Mei Wong 175 LLC for 12-unit rental (C7) at 175 3rd Avenue in Gramercy, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 17, 2021.
The property has 12,192 square feet of built space and 20,217 square feet of additional air rights for a total buildable of 32,400 square feet according to PincusCo analysis of city data. The sale price per built square foot is $492 and the price per buildable square foot is $185 per the PincusCo analysis.
The signatory for Eleben Yau Mei Wong was Michael Sun Wong. The signatory for Son Dinh Tran was Son Dinh Tran.
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 $58,060.
The former owner according to the Department of Housing Preservation and Development was Michael Wong, head officer. The business entity was Eleben Yau Mei Wong 175 Llc.

Direct link to Acris document. link

In the second transaction, Son Dinh Tran through the entity 1901 Lexington LLC paid $4 million to Eleben Yau Mei Wong through the entity Eleben Yau Mei Wong 1901 LLC for 16-unit rental (C7) at 147 East 118th Street in East Harlem, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 17, 2021.
The property has 17,035 square feet of built space and 0 square feet of additional air rights for a total buildable of 16,531 square feet according to PincusCo analysis of city data. The sale price per built square foot is $234 per the PincusCo analysis.
The owner bought the property on 20-Jan-12, for $3.9 million.
The signatory for Eleben Yau Mei Wong was Michael Sun Wong. The signatory for Son Dinh Tran was Son Dinh Tran.
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 owner according to the Department of Housing Preservation and Development was Michael Wong, head officer. The business entity was Eleben Yau Mei Wong 1901 Llc.

Direct link to Acris document. link

In the third transaction, Son Dinh Tran through the entity 532 Ninth Ave LLC paid $4 million to Eleben Yau Mei Wong through the entity Eleben Yau Mei Wong 532 LLC for 18-unit rental (C7) at 532 9th Avenue in Hudson Yards, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 17, 2021.
The property has 9,575 square feet of built space and 5,279 square feet of additional air rights for a total buildable of 14,851 square feet according to PincusCo analysis of city data. The sale price per built square foot is $417 and the price per buildable square foot is $269 per the PincusCo analysis.
The signatory for Eleben Yau Mei Wong was Michael Sun Wong. The signatory for Son Dinh Tran was Yaron Kornblum.
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 Michael Wong, head officer and Eleben Wong, shareholder. The business entity was Eleben Yau Mei Wong 532 Llc.

Direct link to Acris document. link

In the financing transaction, Son Dinh Tran through the entity 175 Third Ave LLC as borrower signed a acquisition loan with lender Titan Capital ID through the entity Titan Capital Id, LLC valued at $10.5 million for three rentals including the 16-unit rental (C7) at 147 East 118th Street in East Harlem, Manhattan, 12-unit rental (C7) at 175 3rd Avenue in Gramercy, Manhattan, and 18-unit rental (C7) at 532 9th Avenue in Hudson Yards, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 17, 2021.
The three properties have 38,802 square feet of built space and 24,985 square feet of additional air rights for a total buildable of 63,782 square feet according to PincusCo analysis of city data. The loan price per built square foot is $270 and the price per buildable square foot is $164 per the PincusCo analysis.
The signatory for Son Dinh Tran was Son Dinh Tran.
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 Michael Wong, head officer and Eleben Wong, shareholder. The business entity was Eleben Yau Mei Wong 532 Llc.

Direct link to Acris document. link