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Eric Koch Acquires Hotel In Bronx For $14 Million With Brokers Jonathan Squires Josh Neustadter Austin Weiner

Property Image
SOLD
$14,000,000
Austin Weiner
Josh Neustadter
Jonathan Squires

New York

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Eric Koch Acquires Hotel In Bronx For $14 Million With Brokers Jonathan Squires Josh Neustadter Austin Weiner

2500 Crotona Avenue

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Hotel20,000 SF
Sold 05/29/2025
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Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$700
Total Square Footage:20,000 SF
Transaction Type:Sale

This transaction involves a hotel property located at 2500 Crotona Avenue in the Bronx market. The sale price was $14,000,000 for a total square footage of 20,000, which equates to a price per square foot of $700. The property features 46 keys, leading to a price per key of $304,347.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $14,000,000
  • Address: 2500 Crotona Avenue
  • Market: Bronx
  • Square Footage: 20,000
  • Price per Square Foot: $700
  • Number of Keys: 46
  • Price per Key: $304,347
  • Buyer: Eric Koch
  • Seller: Mitchell Suss
  • Brokers: Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield

The deal was facilitated by the brokerage team from Cushman & Wakefield, comprising Jonathan Squires, Josh Neustadter, and Austin Weiner, representing both the buyer and the seller in this transaction.

Players

Josh Neustadter
Cushman & Wakefield
Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER
Jonathan Squires
Cushman & Wakefield
Jonathan Squires
93 deals$712.3M volume(917) 445-0022
BROKER
Austin Weiner
Cushman & Wakefield
Austin Weiner
37 deals$281.6M volume
BROKER

Details

SOLD
IMAGE: Josh Neustadter, Jonathan Squires & Austin Weiner DATE: 5/29/2025 ADDRESS: 2500 Crotona Avenue MARKET: Bronx ASSET TYPE: Hotel BUYER: Eric Koch SELLER: Mitchell Suss BROKERS: Jonathan Squires, Josh Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner) - Cushman & Wakefield (@CushWake) SALE PRICE: $14,000,000 SF: 20,000 ~ PPSF: $700 KEYS: 46 | PPK: $304,347

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$746,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71