Spigland Family Trust Sells Medical Office Building In Bronx For $1.2M With Cushman & Wakefield Rep
SOLD
$1,200,000
New York
See Similar DealsOffice2,959 SF
Sold 12/19/2025
SOLD
Spigland Family Trust Sells Medical Office Building In Bronx For $1.2M With Cushman & Wakefield Rep
3307 Bainbridge Avenue
See Similar DealsOffice2,959 SF
Sold 12/19/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$405
Total Square Footage:2,959 SF
Transaction Type:Sale
The office property located at 3307 Bainbridge Avenue in the Bronx has been sold for $1,200,000. The asset spans 2,959 square feet, which equates to a price per square foot of $405. The property is leased to Montefiore, making it a NNN leased medical office building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,200,000
- Square Footage: 2,959
- Price per Square Foot: $405
- Seller: Spigland Family Trust
- Brokers: Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield
The transaction involved key brokerage figures Jonathan Squires, Josh Neustadter, and Austin Weiner, representing the seller, Spigland Family Trust. Their collaboration facilitated the successful closing of this property deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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