Gontar Management Acquires Mixed-Use Property In Westchester Square, Bronx For $11.25M

The mixed-use property located at 1400 Benson Street in Westchester Square, Bronx has been sold in a recent transaction. The property, originally built in 1925 by the Rudin Family, has a rich history and has now changed hands for the first time in its 95-year existence. The sale was facilitated by Cushman & Wakefield brokers Josh King, Jonathan Squires, Eric Roth, Michael Fioravanti, Tyler Signora, and Rob Shapiro, representing the buyer, Michael Gontar of Gontar Management. The seller in this transaction was Rudin Management.

Summary of transation details

• Property Type: Mixed-Use
• Transaction Amount: $11,250,000
• Units: 64 (Price per Unit: $175,781)
• Square Footage: 55,272 (Price per Square Foot: $204)
• Date: 12/21/2020
• Market: Westchester Square, Bronx

The sale of 1400 Benson Street marks a significant moment in the property's history as it changes ownership for the first time since it was built. The Rudin Family, who constructed the building in 1925, has decided to sell the property, and Gontar Management, represented by Michael Gontar, seized the opportunity to acquire this unique asset. This transaction showcases the expertise and negotiation skills of the Cushman & Wakefield brokers, who successfully facilitated the deal between the buyer and seller.