Ved Parkash picks up Fordham Heights apartment building

Deal is one of two commercial property trades between $10M and $30M last week

New York /
Oct.October 27, 2020 08:00 AM
2055 Anthony Avenue and 1416 Ferris Place (Google Maps)

2055 Anthony Avenue and 1416 Ferris Place (Google Maps)

The Bronx captured the only two commercial property trades between $10 million and $30 million last week. Notorious landlord Ved Parkash bought an apartment building in Fordham Heights and a school bus provider snapped up two parcels in Westchester Square.

Below are the details of the middle-market sales recorded during the week ending Oct. 23.

1) School bus company GVC Ltd. purchased 1400 and 1416 Ferris Place in Westchester Square for $12.5 million. The first lot is vacant and spans 87,175 square feet. The adjacent parcel spans 31,625 square feet and holds a 12,200-square-foot industrial building. The seller was fuel supplier Fred M Schildwachter & Sons, which recently merged with Ferris Place Corporation, according to the sales document.

2) Ved Parkash purchased an 80-unit, 74,580-square-foot multifamily building at 2055 Anthony Avenue in Fordham Heights for $11.5 million. Rosewood Realty Group’s Aaron Jungreis represented the buyer and seller, the Morgan Group. In June, Parkash purchased an 83-unit multifamily building in nearby Mount Hope, also from the Morgan Group, for $12.5 million. The landlord has a checkered history and has come under public scrutiny for living conditions at his properties.





    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
    1065-1075 Gerard Avenue in the Bronx 
    Prana pays Related $36M in Bronx multifamily play
    Prana pays Related $36M in Bronx multifamily play
    448 East 143rd Street in the Bronx (Credit: Google Maps)
    Private developer’s NYCHA project in Mott Haven lands $79M in financing
    Private developer’s NYCHA project in Mott Haven lands $79M in financing
    Thor Equities Group Chairman Joseph J. Sitt. (Thor)
    Thor facing foreclosure on Harlem rental building
    Thor facing foreclosure on Harlem rental building
    Photo illustration of Vornado CEO Steven Roth and Hotel Pennsylvania at 401 Seventh Avenue (Getty, iStock, Vornado)
    “Inevitable”: Vornado will demolish Hotel Pennsylvania
    “Inevitable”: Vornado will demolish Hotel Pennsylvania
    The rate of loans sent to special servicers continued to fall in March. (Unsplash)
    CMBS special servicing rate declines in March
    CMBS special servicing rate declines in March
    JLL CEO Christian Ulbrich. (Getty)
    JLL explores sale of China property management wing
    JLL explores sale of China property management wing
    Dollar General CEO Todd Vasos (Retail Industry Leaders Association, iStock)
    Dollar General thrives amid retail apocalypse
    Dollar General thrives amid retail apocalypse
    arrow_forward_ios

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

    Loading...