Essen Medical Acquires Bronx Office Building On Williamsbridge Rd. For $2.4M

An office property located at 1468 Williamsbridge Rd. in Bronx has been sold for $2,400,000. The property spans approximately 4,800 square feet and was purchased by Essen Medical. The transaction took place on December 17, 2021.

Summary of transation details

• Property Type: Office
• Transaction Amount: $2,400,000
• Address: 1468 Williamsbridge Rd., Bronx
• Market: Bronx

The sale of the office property was facilitated by 5 Boro Real Estate Partners, represented by Moshik Regev, Ori Argaman, Uri Mermelstein, and Joseph Yushuvayev. The brokers involved in the transaction were Chris Varjan, George Steffani, Steve Lorenzo, and Jonathan Braun from Lee & Associates NYC.

According to @LeeAssociatesNYC, the transaction attracted significant interest from various end users, resulting in competitive offers. The chosen buyer was able to provide a fast time of essence (TOE) closing and favorable terms, allowing the seller to utilize the proceeds for a 1031 exchange on a property already under contract. Lee & Associates also brokered the mentioned transaction at 3251 Westchester Ave.

Lee & Associates is actively expanding its presence in the Bronx, focusing on commercial and development properties. They anticipate bringing new inventory to the market in 2022 due to the high demand from end users and investors seeking to benefit from the market's growth and yield. Additionally, the company is actively hiring for sales and leasing positions; interested individuals can submit their resumes to [email protected].