The Real Deal New York

Isaac Kassirer selling four Bronx multifamily buildings for $25M

Kassirer purchased properties in Hunts Point and Belmont about two years ago
By Eddie Small | July 31, 2018 08:30AM

From left: Isaac Kassirer, 495 East 188th Street, and 769 Bryant Avenue in the Bronx (Credit: Emerald Equity Group, Apartments. and Google Maps)

UPDATED, 4:12 p.m. Aug. 1: A group led by Isaac Kassirer  has sold four multifamily buildings in the Bronx, according to sources familiar with the deal.

The buildings are located in Hunts Point at 769 Bryant Avenue and in Belmont at 495 East 188th Street, 4585 Park Avenue and 4589 Park Avenue. Kassirer sold them for $24.65 million.

The investor bought the buildings about two years ago for about $18.5 million in total, property records show. Dan Pollak of ZP Realty Capital brokered the deal for the buyer, a private family completing a 1031 exchange.  Steven Vegh of Westwood Realty Associates represented Kassirer on the sale.

The East 188th Street building contains 30 residential units across five floors, and the Bryant Avenue building contains 45 residential units across five floors, according to city data. The buildings on Park Avenue each have 25 units over five floors.

Kassirer has been extremely active on the market lately, although much more on the buying side than the selling side. This year alone, he has purchased 838 West End Avenue from Thor Equities and Rockwood Capital for about $65 million, a 21-building Harlem portfolio from E&M Associates for $85 million and a four-building Upper West Side portfolio from the Orbach Group for $116 million. He also went into contract earlier this year to sell a 15-building Bronx portfolio to a group of investors led by Ben and Joe Soleimani for $65 million.

This post has been updated to include Steven Vegh’s involvement on the deal.