Yonah Grunhut And Steven Westreich Acquire Development Site At 2800 And 2790 Webster Avenue For $8.6M
2800 Webster Avenue & 2790 Webster Avenue
$8,600,000
$308/SF
Building Size
27,900 SF
Asset Type
Development Site
Closing
May 27, 2026
AI
The transaction involved two development sites located at 2800 Webster Avenue and 2790 Webster Avenue in the Bronx. The total sale price was $8,600,000, with a per unit price of $4,300,000. The combined building square footage was 74,094, which equates to a price per building square foot of $116. The total square footage involved in the sale was 27,900, translating to a price per square foot of $308.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,600,000
- Buyer: Yonah Grunhut - Grun Group & Steven Westreich
- Seller: Nat Rickman
- Broker Representative for Buyer: David Simone - Concourse Realty
- Broker Representative for Buyer: Kathy Zamechansky
- Units: 2
- BSF: 74,094
- SF: 27,900
- PPU: $4,300,000
- PPBSF: $116
- PPSF: $308
Kathy Zamechansky and David Simone represented the buyers, Yonah Grunhut and Steven Westreich, in this transaction. The seller, Nat Rickman, finalized the deal on May 28, 2026. For inquiries regarding buying, selling, or leasing space in the Bronx, contact Kathy Z or David Simone.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93