Yehoshia Sturm pays $8.7M to Hysen Mehmetaj for rental in Morrisania

Yehoshia Sturm through the entity Baycrest East 168 Realty LLC paid $8.7 million to Hysen Mehmetaj through the entity Skivjani Realty Corp. for 64-unit rental (C1) at 547 East 168th Street in Morrisania, Bronx.
The deal closed on July 30, 2021 and was recorded on August 9, 2021.
The property has 46,040 square feet of built space and 8,007 square feet of additional air rights for a total buildable of 54,008 square feet according to PincusCo analysis of city data. The sale price per built square foot is $187 and the price per buildable square foot is $160 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 Hysen Mehmetaj was Hysen Mehmetaj. The signatory for Yehoshia Sturm was Yehoshia Sturm.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $30,500.
The contract date was January 14, 2021.
The former owners according to the Department of Housing Preservation and Development includes Hysen Mehmetaj, head officer and Wilson Tavarez, site manager. The business entity was Skivjani Realty Corp.

Within a 400-foot radius of 547 East 168th Street, Pincusco identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was in new building development. It was a new building permit issued on June 10, 2021 for a 21,033-square-foot R-2 building with 31 residential units residential units at 1215 Fulton Avenue.
One of those three items was a sale which The Bridge bought the 34,957-square-foot, 51-unit rental (D7) on 1228 Washington Avenue for $13.0 million from Descendants of Miriam Cohen on December 2, 2020.
One of those three items was a loan which The Bridge borrowed $11.0 million from Community Preservation Corporation secured by the 34,957-square-foot, 51-unit rental (D7) on 1228 Washington Avenue on December 2, 2020.

Direct link to Acris document. link