33 Equities Picks Up Bronx Multifamily Development for $27M
By Nicholas Rizzi July 3, 2024 12:51 pm
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A 79-unit multifamily development in the Bronx changed hands for $27 million, property records show.
Aleksander Lakaj’s RBA Developers sold the seven-story residential building at 1039 East Gun Hill Road in the Williamsbridge neighborhood to 33 Equities, according to property records made public Tuesday. 33 Equities secured a $20 million loan from IDB Bank for the purchase, property records show.
Representatives for 33 Equities and IDB Bank did not immediately respond to requests for comment. Lakaj could not be reached for comment. The deal was first reported by PincusCo.
Lakaj — who has developed other residential projects in the Bronx — picked up the former one-story retail building for $4.2 million in 2021 and filed plans later that year for the multifamily development, according to property records and New York Yimby. He secured a $17.7 million construction loan for the project in January 2023 and then permits to build the development that October, PincusCo reported.
The project appears to have recently finished construction and it was awarded a temporary certificate of occupancy from the city in May, city records show.
This isn’t 33 Equities’ first purchase in the Bronx. In 2022, the company dropped $19.8 million for a 61-unit building at 1988 Anthony Avenue in Tremont, The Real Deal reported. It also spent $20 million for a 20-unit apartment building at 203 Spring Street in SoHo that same year, PincusCo reported.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
