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Ved Parkash picks up Fordham Heights apartment building
Deal is one of two commercial property trades between $10M and $30M last week
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.