UHAB pays $2.6M to James Giddings for 20-unit walkup in Mott Haven

Urban Homesteading Assistance Board through the entity UHAB Housing Development Fund Corporation paid $2.6 million to James Giddings through the entity 700 East 134th Street LLC for 20-unit residential walkup building at 700 East 134th Street in Mott Haven, Bronx.
The deal closed on February 7, 2022 and was recorded on February 22, 2022.
The property has 13,975 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $186 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 seller bought the property on January 9, 2017, for $4 million.
The signatory for James Giddings was James Giddings. The signatory for Urban Homesteading Assistance Board was Andrew Reicher.
Prior to this transaction, the buyer Urban Homesteading Assistance Board had not purchased any other properties and sold one properties in one transactions for a total of $5.8 million over the past 24 months.
The seller James Giddings had not purchased any other properties and sold one property in one transaction for a total of $3.2 million over the same time period.

In Mott Haven, the bulk, or 38 percent of the 43.4 million square feet of built space are residential elevator buildings, with industrial buildings next occupying 23 percent of the space. In sales, Mott Haven has 2.7 times the average sales volume among other neighborhoods with $744 million in sales volume in the last two years and is the highest in Bronx. For development, Mott Haven is the 7th most active neighborhood among other neighborhoods. It had 4.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.
On the tax block, the majority, or 45 percent of the 171,407 square feet of built space are 1-4 family buildings, with industrial buildings next occupying 28 percent of the space.
The former owners according to the Department of Housing Preservation and Development included James Giddings, head officer and Lillian Morales, site manager. The business entity was 700 East 134th Street Llc.
Within a 400-foot radius of 700 East 134th Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit issued on July 29, 2021 for a 113,289-square-foot R-2 building with 133 residential units at 750 East 134th Street.

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