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Mega Construction Purchases Industrial Asset From Montefiore For $10.6M In Bronx

Property Image
SOLD
$10,600,000
Mark Weiss
Josh Neustadter
+ 1

New York

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Industrial58,962 SF
Sold 03/07/2025
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Property Image
SOLD

Mega Construction Purchases Industrial Asset From Montefiore For $10.6M In Bronx

1776 Hoe Avenue

See Similar Deals
Industrial58,962 SF
Sold 03/07/2025
Mark Weiss
Josh Neustadter
+ 1
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$179
Total Square Footage:58,962 SF
Transaction Type:Sale

The property asset involved in this transaction is an industrial facility located at 1776 Hoe Avenue in the Bronx. The sale was finalized for a total of $10,600,000, encompassing a spacious area of 58,962 square feet, resulting in a price per square foot of $179.

Summary of transaction details:

The key individuals involved in this transaction include Mark Weiss, Jonathan Squires, Josh Neustadter, and Austin Weiner, who represented the brokerage firm Cushman & Wakefield in facilitating the sale between Mega Construction and Montefiore.

Players

Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Mark Weiss
Cushman & Wakefield
16 deals$264.6M volume
BROKER

Austin Weiner
Cushman & Wakefield
37 deals$281.6M volume
BROKER

Details

SOLD
IMAGE: Mark Weiss, Jonathan Squires, Josh Neustadter & Austin Weiner DATE: 03/07/2025 ADDRESS: 1776 Hoe Avenue MARKET: Bronx ASSET TYPE: Industrial BUYER: Mega Construction SELLER: Montefiore BROKERS: Mark Weiss, Jonathan Squires, Josh Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner) - Cushman & Wakefield (@CushWake) SALE PRICE: $10,600,000 SF: 58,962 ~ PPSF: $179

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,659.58
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