San Francisco-based Prana Investments Sells Bronx Apartment Building for $10.5M



1530 Sheridan Avenue.
1530 Sheridan Avenue.

A longtime Bronx landlord has paid San Francisco-based Prana Investments $10.5 million for a six-story building with 84 apartments in the Claremont section of the Bronx, Commercial Observer has learned.

SEE ALSO: After 33 Years, Bronx Landlord Sells 93-Unit Portfolio for $20M

The 96,000-square-foot elevator property “offers investors upside and scale,” Besen & AssociatesAmit Doshi, who represented both sides in the deal at 1530 Sheridan Avenue, said in a prepared statement.

The 1927 elevator building sold on March 20 and was recorded with the city on April 4, according to property records.

Mr. Doshi previously sold the building as a part of $295 million portfolio deal in 2007, after which the property traded hands two times prior to the current sale.

“There was considerable interest and competition to acquire it in a short time frame due to large layouts and size of the asset,” he said.

The purchaser is listed as Parkash 1530 LLC in public documents. Besen & Associates said the buyer is a Bronx landlord.