Zeqe Mehmetaj pays $12M to Richard Laubsch for multifamily property in Riverdale

Zeqe Mehmetaj through the entity 1394 B.P.R Realty Corp. paid Richard Laubsch’s Bob-Al Management Corp. $11.5 million for 3540 Decatur Avenue in Riverdale. The deal closed on November 19, 2019, and was recorded on December 6, 2019. The transaction consists of 1 parcel, including the tax class multifamily, miscellaneous (D9) and containing 68 residential units. The property is 67,000 square feet. The parcel(s) have total development potential of 67,000 square feet.
The sale price per unit is $169,485.
The estimated cap rate is 1.9%

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link