Ved Parkash pays $11.5M to Morgan Group for 78-unit rental in Fordham

UPDATED with broker information: Ved Parkash through the entity V & S 2055 LLC paid Morgan Group’s 2055 A. LLC $11.5 million for 2055 Anthony Avenue in Fordham. The deal closed on October 13, 2020, and was recorded on October 21, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 78 residential units. The property is 74,580 square feet. The parcel(s) have total development potential of 105,380 square feet.
The sale price per unit is $147,436.

The contract date was January 31, 2020. The last time the property sold was November 14, 2012, for $7,150,000.

The broker on the transaction was Aaron Jungreis of Rosewood Realty Group, who represented the buyer and seller.
According to a statement from Rosewood: “The 74,580 square foot elevator building at 2055 Anthony Avenue, sold for 10 times the current rent roll, at a CAP rate of 6 percent. The rent-stabilized building was built in 1920 and also features 30,800 square feet of air rights and a superintendent’s apartment in the basement.”

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The signatory for the buyer was Ved Parkash