Bayrock Capital Acquires Hotel In The Bronx For $4.25M

Located at 2101 Needham Avenue in The Bronx, this hotel property has been sold in a recent transaction. The asset, measuring 11,634 square feet, boasts a selling price of $4,250,000, resulting in a price per square foot of $365. The property comprises 27 keys, equating to a price per key of $157,407.

Summary of Transaction Details

• Property Type: Hotel
• Transaction Amount: $4,250,000
• Market: The Bronx
• Address: 2101 Needham Avenue
• Buyer: Bayrock Capital - Marc Glassman and Daniel Rabinowitz
• Seller: RMJ Motel Corp - John Palladino
• Brokers: Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield
• Keys: 27
• Price per Key: $157,407
• Square Footage: 11,634
• Price per Square Foot: $365

In this transaction, Bayrock Capital, represented by Marc Glassman and Daniel Rabinowitz, acquired the hotel property from RMJ Motel Corp, represented by John Palladino. The deal was facilitated by brokers Jonathan Squires, Josh Neustadter, and Austin Weiner from Cushman & Wakefield.