Steve Tenedios in care of MCP Property Management pays $13M to Steve Tenedios and partner for property in Sunnyside

Steve Tenedios in care of MCP Property Management through the entity 47-46 40 Street Realty LLC paid Steve Tenedios and a partner’s 40th Street LLC $12.5 million for 47-46 40th Street in Sunnyside. The deal closed on September 24, 2019, and was recorded on September 26, 2019. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 55 residential units. The property is 50,400 square feet. The parcel(s) have total development potential of 50,400 square feet.
The sale price per unit is $227,273.
The estimated cap rate is 3.7%
The last time the property sold was August 23, 2016, for $15,000,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $583,759.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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