Isaac Kassirer selling four Bronx multifamily buildings for $25M

Kassirer purchased properties in Hunts Point and Belmont about two years ago

TRD New York /
Jul.July 31, 2018 08:30 AM

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.

Related Article

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

Numbers were down across the board (Credit: iStock)

New York’s multifamily market had its slowest first half of the year since 2011

Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

Embattled Prodigy Network CEO Rodrigo Niño to step down

Aggressive iBuyer Opendoor acquires title and escrow company

Here are 5 takeaways from TRD’s deep dive into Eklund-Gomes’ national expansion