Yechiel Newhouse pays $43M to NYC Housing Partnership for rental in Unionport

Yechiel Newhouse through the entity HP Park Lane Preservation Housing Development Fund paid $43 million to NYC Housing Partnership for 359-unit rental (D3) at 1965 Lafayette Avenue in Unionport, Bronx.
The deal closed on October 16, 2021 and was recorded on December 3, 2021.
The property has 400,932 square feet of built space and 279,082 square feet of additional air rights for a total buildable of 680,193 square feet according to PincusCo analysis of city data. The sale price per built square foot is $107 and the price per buildable square foot is $63 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 signatory for NYC Housing Partnership was David Goldban.
(220698797)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 353 residential units on January 4, 2021.
The former owners according to the Department of Housing Preservation and Development includes Peter Gray, head officer and Katiya Lunnon, site manager. The business entity is Pl Preservation Llc.
Within a 400-foot radius of 1965 Lafayette Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit application filed on May 5, 2020 for a 101,351-square-foot R-2 building with 154 residential units at 1940 Turnbull Avenue.

Direct link to Acris document. link