Updated Aug 4, 2026
Abbott Construction Acquires Medical Office In Bronx From Cresleigh Homes For $8M
1940 Webster Avenue
$8,000,000
$487/SF
Building Size
16,426 SF
Asset Type
Medical Office
Closing
Jul 20, 2026
About this deal
AI
The property involved in this transaction is a medical office located at 1940 Webster Avenue in the Bronx. The sale was completed for a total amount of $8,000,000, covering a total square footage of 16,426, resulting in a price per square foot of $487.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $8,000,000
- Address: 1940 Webster Avenue
- Market: Bronx
- Square Footage: 16,426
- Price Per Square Foot: $487
- Buyer: Abbott Construction
- Seller: Cresleigh Homes
- Buyer's Representative: Robert Sharfstein - RPS Capital Management
- Seller's Representatives: Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield
This transaction involved key individuals from both the buyer's and seller's side. Robert Sharfstein, representing Abbott Construction, facilitated the acquisition, while Jonathan Squires, Josh Neustadter, and Austin Weiner represented Cresleigh Homes in the sale process.
On the Map
$8,000,000
$487/SF
Medical Office
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Players
Bronx Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93