Tareb Mgmt pays $8M for retail in Williamsbridge

Aziz Tareb’s Tareb Mgmt through the entity 3500 Whiteplains LLC paid $8 million to Frank Cinquemani through the entity Cinquemani Partners LLC for the retail building (K1) at 3500 White Plains Road in Williamsbridge, Bronx.
The deal closed on September 11, 2025 and was recorded on September 25, 2025. The property has 10,000 square feet of built space and 30,000 square feet of additional air rights for a total buildable of 40,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $800 and the price per buildable square foot is $200 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 Frank Cinquemani was Frank Cinquemani. The signatory for Tareb Mgmt was Aziz Tareb . The contract date was February 28, 2025. The seller’s family owns the East End Funeral Home.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Tareb Mgmt had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Frank Cinquemani had not purchased any other properties and had not sold any properties over the same time period. The 10,000-square-foot property generated revenue of $522,386 or $52 per square foot, according to the most recent income and expense figures.

The property

The retail building in Williamsbridge has 10,000 square feet of built space and 30,000 square feet of additional air rights for a total buildable of 40,000 square feet 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 R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.9 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $2,650 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 neighborhood

In Williamsbridge, The bulk, or 40 percent of the 6.9 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 26 percent of the space. In sales, Williamsbridge has the 23rd highest sale turnover among other neighborhoods in Bronx with $66.4 million in sales volume in the last two years. For development, Williamsbridge has had very little major development activity relative to other neighborhoods.It had 451,727 square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 20 commercial properties representing 179,201 square feet of the 243,046 square feet. The largest owner is Irgang Group, followed by Center For Urban Community Services and then Francine Ross-Roden.
On the tax block, there was one new building construction project filed totaling 97,681 square feet. It is a 143-unit, 97,681 square-foot residential (R-2) building submitted by Louis Lebovits with plans filed July 28, 2021 and permitted May 19, 2022.

The majority, or 44 percent of the 243,046 square feet of built space are elevator buildings, with mixed-use buildings next occupying 23 percent of the space.

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