Tejpal Sandhu pays $5M to Henry Kessler for warehouse in Bronx

Tejpal Sandhu through the entity Superior 233rd LLC paid Henry Kessler’s 233 E LLC $5.2 million for 1591 East 233rd Street in Bronx. The deal closed on September 25, 2019, and was recorded on October 29, 2019. The transaction consists of 1 parcel, including the tax class miscellaneous warehouse (E9). The property is 10,784 square feet. The parcel(s) have total development potential of 27,784 square feet.
The average sale price per square foot is $187.
The estimated cap rate is 2.0%
The last time the property sold was February 2, 2007, for $1,500,000.

Direct link to Acris document. link
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