Yechiel Newhouse pays $24.4M to Stellar Management for rental in Soundview

Yechiel Newhouse through the entity JR Morrison, LLC paid $24.4 million to Stellar Management through the entity Stellar Morrison LLC for 154-unit rental (D3) at 1240 Morrison Avenue in Soundview, Bronx.
The deal closed on April 21, 2021 and was recorded on April 30, 2021.
The property has 147,727 square feet of built space and 0 square feet of additional air rights for a total buildable of 145,800 square feet according to PincusCo analysis of city data. The sale price per built square foot is $165 per the PincusCo analysis. The Commercial Observer covered the sale here.
The signatory for Stellar Management was Adam Roman. The signatory for Yechiel Newhouse was Yechiel Newhouse.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Stellar Management is owned by Laurence Gluck.
The former owners according to the Department of Housing Preservation and Development includes Laurence Gluck, head officer and Smajlje Srdanovic, officer. The business entities are Stellar Management and Stellar Morrison Llc.

Direct link to Acris document. link