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

Controversial landlord bought 83-unit multifamily building in the Bronx

TRD 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.

Related Articles

arrow_forward_ios
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

Here’s what the $10M-$30M NYC investment sales market looked like last week
Right to left: 831, 835 and 837 Madison Avenue (Google Maps)

“The ’57 Chevy in that old lady’s garage”: Madison Avenue buildings up for sale in litmus test for retail real estate

“The ’57 Chevy in that old lady’s garage”: Madison Avenue buildings up for sale in litmus test for retail real estate
410 Tenth Avenue and SL Green CEO Marc Holliday (410 Tenth via Google Maps; Holliday via SL Green)

SL Green shopping Amazon-anchored office in Hudson Yards

SL Green shopping Amazon-anchored office in Hudson Yards
Parkoff Organization's Adam Parkoff and Robert Trump with 8700 25th Avenue in Brooklyn (Google Maps, Getty)

Parkoff picks up portfolio previously owned by Donald Trump’s brother

Parkoff picks up portfolio previously owned by Donald Trump’s brother
Clockwise from left: 432 West 19th Street, 61-15 Metropolitan Avenue in Ridgewood, 45 West 39th Street and 1518 Macombs Road in the Bronx (Google Maps)

Charter school shells out $21 million for Bronx parcels

Charter school shells out $21 million for Bronx parcels
50 West 47th Street with Extell’s Gary Barnett and 1150 Pelham Parkway South (Google Maps)

Extell, Bronx councilman’s brother among dealmakers in NYC’s mid-market i-sales last week

Extell, Bronx councilman’s brother among dealmakers in NYC’s mid-market i-sales last week
US Bank Tower at 633 West Fifth Street and Silverstein Properties' Larry Silverstein (Getty, Wikipedia Commons)

Silverstein Properties confirmed as buyer of LA’s US Bank Tower

Silverstein Properties confirmed as buyer of LA’s US Bank Tower
The coronavirus has been crushing global real estate investment for months, but there are a couple of sectors weathering the storm (iStock)

Here’s how much Covid has crushed global RE investment

Here’s how much Covid has crushed global RE investment
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...