Thomas Mathew pays $5.9M for two commercial condos in Kingsbridge

Thomas Mathew through the entity Evansville Sycamore Properties LLC paid $5.9 million to Maurice Contractors and Designers through the entity 531 Management LLC for two commercial condominium units at 3511 Cambridge Avenue in Kingsbridge, Bronx and industrial (CR) at 3511 Cambridge Avenue in Kingsbridge, Bronx.
The deal closed on June 30, 2021 and was recorded on July 16, 2021.
The two properties have 18,038 square feet of built space and the sale price per built square foot is $327 per the PincusCo analysis.
The signatory for Maurice Contractors and Designers was Maurice Elmalem. The signatory for Thomas Mathew was Thomas Mathew.
(201123195)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 10 residential units on September 20, 2017.
Maurice Elmalem is president and owner of Maurice Contractors and Designers.
There was a condominium project filed with the address 3511 Cambridge Avenue and the name Rive Platinum Condominium (the) on January 26, 2021. The principals of the sponsor, 531 Management Llc, was Maurice Elmalem. link
Within a 400-foot radius of 3511 Cambridge Avenue, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, three were loans above $5 million totaling $26.8 million. The most recent of the three was Eastgold Holdings which borrowed $7.4 million from Capital One secured by the 64,000-square-foot, 55-unit rental (D7) on 511 West 235th Street on March 9, 2020.

Direct link to Acris document. link