The Bridge pays $13M to family of Miriam Cohen for property in Morrisania

The Bridge through the entity 1228 Washington Avenue Housing Development Fund Co paid the descendants of Miriam Cohen’s 12 NYC LLC $13 million for 1228 Washington Avenue in Morrisania. The deal closed on November 18, 2020 and was recorded on December 2, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 50 residential units. The property is 34,957 square feet. The parcel(s) have total development potential of 34,957 square feet.
The sale price per unit is $260,000.

The contract date was January 28, 2020. The last time the property sold was December 5, 2017 for $975,000.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.

There has been one new building permit application Those plans include a total of 50 residential units.

There has been one demolition project filed for the parcels over the past five years.

Direct link to Acris document. link
The signatory for the buyer or lender was Carole Gordon