San Francisco-based Prana Investments Sells Bronx Apartment Building for $10.5M
Lauren Elkies Schram April 18, 2014, 1:57 p.m.
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.
The 96,000-square-foot elevator property “offers investors upside and scale,” Besen & Associates‘ Amit 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.