Ved Parkash purchase makes TRD’s mid-market i-sales list

Controversial landlord bought 83-unit multifamily building in the Bronx

New York /
Jun.June 15, 2020 08:00 AM
125 East 92nd Street and 165 East 179th Street (Corcoran, Google Maps) 

125 East 92nd Street and 165 East 179th Street (Corcoran, Google Maps)

The $10 million to $30 million sector of New York’s investment sales market saw three deals last week, including a multifamily building purchase by controversial landlord Ved Parkash and the $26 million sale of a commercial building in Queens. Here are the details:

  1. California-based LBA Realty purchased 58-38 47th Street in Queens for $26 million from LDT Enterprises. The commercial property in Maspeth spans 7,500 square feet, according to the city. It is home to New York Crane & Equipment Corp., according to the company’s website.
  2. Allerton House LLC purchased 125 East 92nd Street in Manhattan for about $14.2 million from Pacermer LLC. The one- to two-family residential building on the Upper East Side stands five stories and spans about 6,700 square feet, according to the city.
  3. An LLC linked to notorious landlord Ved Parkash bought the multifamily building at 165 East 179th Street in the Bronx for about $12.5 million from the Morgan Group. The six-story property contains 83 residential units and spans 93,400 square feet, according to the city. Parkash has come under fire many times over the years for the conditions of his buildings, including 750 Grand Concourse in The Bronx, where a rare disease spread by rat urine broke out in 2017.

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