---
title: "Altmark Group Sells Mott Haven Lots Destined for 99-Unit Redevelopment for $22M"
url: https://burnaze.com/article/a2706fee-c9a0-4658-bed5-f600ca1d11bb
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/06/altmark-group-sells-mott-haven-development/
author: "Edavis"
category: "Real Estate"
published: 2026-06-18T17:22:28.000Z
modified: 2026-10-31T13:19:54.700Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/06/517-E-132nd_122-Bruckner-Blvd_521-E-132nd-copy.jpg?quality=80&resize=1200%2C630&strip=
---

# Altmark Group Sells Mott Haven Lots Destined for 99-Unit Redevelopment for $22M

**TL;DR:** Altmark Group has sold three adjacent lots in the Bronx's Mott Haven neighborhood to LLC 122 Blvd 134 St for $21.7 million, with plans for a 99-unit housing development. The buyer entity is tied to Anshel Fridman, head of Nalcorp and Artist Construction.

*By Edavis, originally published in Commercial Observer on 2026-06-18. [Read the original](https://commercialobserver.com/2026/06/altmark-group-sells-mott-haven-development/).*

## Story

Three adjacent lots in the Bronx’s Mott Haven neighborhood have been snapped up for a series of ground-up, 99-unit housing developments.

The acquisition and accompanying plans join the city’s ever-growing ranks of 99-unit apartment deals, catalyzed by the construction wage requirements of the city’s controversial 485-x incentive.

The transaction, filed Thursday, saw three parcels along East 132nd Street and Bruckner Boulevard trade for $21.7 million to LLC **122 Blvd 134 St**. The buyer entity is tied to **Anshel Fridman**, head of the local real estate investment and development firm **Nalcorp** and general contractor **Artist Construction**. The seller was Bronx-based development, investment and property management firm **Altmark Group**, represented by **Adi Altmark**, a principal at the group, through the entity **122 Bruckner Development**.

The three lots in question are at **517 East 132nd Street**, **519 East 132nd Street** and **122 Bruckner Boulevard**. The lots currently contain a mix of buildings zoned for industrial and specialty uses.

Plans filed for the lots filed by Fridman with the **New York City Department of Buildings** call for three 14-story residential buildings, PincusCo reported. Each 99-unit building will span between 78,000 and 96,000 square feet, according to the filings.

Nalcorp’s $21.7 million acquisition included a $15.72 million mortgage agreement with Israel-based bank **Bank Hapoalim**, according to property records. A **JLL** team led by **Brendan Maddigan**, **Ethan Stanton** and **Mike Mazzara** represented Altmark Group, and negotiated the transaction directly with Nalcorp.

The firms did not immediately respond to requests for comment.

Altmark reports a portfolio of over 3 million square feet of residential and commercial real estate across the tri-state region. The group recently secured a $96 million refinancing for a completed Bronx apartment complex, the **Motto**, at **2455-2457 Third Avenue**.

Keywords: 122 Bruckner Boulevard, 517 East 132nd Street, 519 East 132nd Street, Adi Altmark, Anshel Fridman, New York City Department of Buildings, 122 Blvd 134 St, 122 Bruckner Development, Altmark Group, Artist Construction, Bank Hapoalim, Nalcorp

## Entities

- Real Estate (sector)
- Commercial Observer (publication)
- JLL (company)
- real estate development (topic)
- investment deal (topic)
- property sale (topic)
- Brendan Maddigan (person)
- Ethan Stanton (person)
- New York City Department of Buildings (regulator)
- Nalcorp (company)
- Mike Mazzara (person)
- housing development (topic)

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Originally reported by Edavis, Commercial Observer (https://commercialobserver.com/2026/06/altmark-group-sells-mott-haven-development/). Summarized by Burnaze (https://burnaze.com/article/a2706fee-c9a0-4658-bed5-f600ca1d11bb).