Yehuda Klein through the entity K&H Association LLC paid $7.9 million to the entity 753 E 134th LLC for the industrial building (F1) at 753-755 East 134th Street in Mott Haven, Bronx.
The deal closed on October 25, 2023 and was recorded on November 15, 2023. The property has 35,082 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $225 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 October 25, 2023, for $5.5 million. The signatory for the seller was Moses Strulovitch. The signatory for Yehuda Klein was Yehuda Klein. The contract date was October 19, 2023. On the same day, an entity with Moses Strulovitch as signatory bought the property for $5.5 million. The smaller sale had a contract date of 2/2/2023 while the larger sale had a contract date of 10/19/2023.
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Yehuda Klein had purchased any other properties and has no record it sold any properties over the past 24 months.
The industrial building in Mott Haven has 35,082 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 151 feet deep with a total lot size of 15,192 square feet. The zoning is M1-2 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $2.3 million.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $1,425 in OATH penalties in the last year.
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
In Mott Haven, The bulk, or 45 percent of the 41.7 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 23 percent of the space. In sales, Mott Haven has 2 times the average sales volume among other neighborhoods with $701.6 million in sales volume in the last two years and is the highest in Bronx. For development, Mott Haven has 1.2 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Bronx. It had 1.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.
There are no active new building construction projects on this tax block.
The majority, or 100 percent of the 108,732 square feet of built space are industrial buildings, with specialty buildings next occupying 0 percent of the space.
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