Ginsburg Development Companies Acquires Multifamily Property In Yonkers For $39.5M

Ginsburg Development Companies has acquired a multifamily property located at 1077 Warburton Avenue in Yonkers. The property consists of 74 units and measures 87,576 square feet. The transaction was facilitated by brokers Jeffrey Dunne and Gene Pride from CBRE. The sale price for the property was $39,500,000, resulting in a price per square foot of $451 and a price per unit of $533,783.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $39,500,000
• Address: 1077 Warburton Avenue, Yonkers
• Market: Yonkers

Gene Pride from CBRE represented the buyer, Ginsburg Development Companies, in this transaction. The seller of the property was RMS Companies, with Randy Salvatore as their representative. This acquisition highlights the active real estate market in Yonkers and the strong interest in multifamily properties in the area.