Sonny Vataj pays $3.6M for walkup with 54 units in Allerton

Sonny Vataj through the entity 2758 Cruger LLC paid $3.6 million to Tanaz Eshaghian through the entity Ms Cruger LLC for the 54-unit residential walkup building (C1) at 2756-2758 Cruger Avenue with an alternate address of 724-734 Arnow Avenue in Allerton, Bronx. The expected use is cash flowing.
The deal closed on April 10, 2025 and was recorded on April 22, 2025. The property has 48,800 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $73 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 Tanaz Eshaghian was Tanaz Eshaghian. The signatory for Sonny Vataj was Sonny Vataj. The contract date was December 19, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Sonny Vataj purchased one property in one transaction for a total of $5.5 million and has no record it sold any properties over the past 24 months.
The seller Tanaz Eshaghian had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Andres Soto, head officer and Joshua Salon, officer. The business entity is Ms Cruger Llc. The two properties with a total of 48,800 square feet of built space generated revenue of $586,613 per year or $12 per square foot. The sale price per square foot was $74.

The property

The walkup building with 54 residential units in Allerton has 48,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.3 million. The most recent loan totaled $10.2 million and was provided by First Republic Bank on August 10, 2022, but was secured by additional buildings. The property has 53 rent regulated units according to city tax records from 2023.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received 47 housing violations and $200 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On the tax block of 2756-2758 Cruger Avenue, PincusCo has identified the owners of one of the seven commercial properties representing 48,800 square feet of the 63,847 square feet. The identified owner is Tanaz Eshaghian.
There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 63,847 square feet of built space are walkup buildings, with mixed-use buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Tanaz Eshaghian owned at least five commercial properties with 124 residential units in New York City with 103,145 square feet and a city-determined market value of $19 million. (Market value is typically about 50% of actual value.) The portfolio has $10.2 million in debt, borrowed from First Republic Bank. Within the portfolio, the bulk, or 96 percent of the 103,145 square feet of built space are walkup properties, with mixed-use properties next occupying 4 percent of the space. The bulk, or 53 percent of the built space, is in Manhattan, with Bronx next at 47 percent of the space.

The buyer

The PincusCo database currently indicates that Sonny Vataj owned at least four commercial properties with 79 residential units in New York City with 75,088 square feet and a city-determined market value of $5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 64 percent of the 75,088 square feet of built space are elevator properties, with walkup properties next occupying 33 percent of the space. They are all located in Bronx.

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