Bronx, NY Emerald Equities closed on a sale of two buildings in the Bedford Park area for $11.1 million. The buildings, 2726 and 2730 Decatur Ave., consist of 60 residential units and span 51,000 s/f. Emerald purchased the buildings from Ram Gupta and Boysie Shew for $5.4 million in July 2014. Emerald has completed significant capital improvements since purchasing the building with rents in the building ranging from $1,700 for two-bedroom and $1,350 for one-bedroom units, according to StreetEasy.
The purchaser, a private Brooklyn-based family office, assumed the existing debt of $8.45 million from Arbor Bank
Steven Vegh of Westwood Realty Advisors represented both sides on this off-market transaction.