ZG Capital Partners Acquires Rental Property In South Bronx For $65M

2417 Third Avenue, located in the South Bronx, was recently sold in a closed transaction. The rental property spans across 176,000 square feet and was acquired by ZG Capital Partners, led by Bobby Zar and James Tamborlane, for a price of $65,000,000. The asset was previously owned by Savanna and Hornig Capital Partners.

Summary of transaction details

• Property Type: Rental
• Transaction Amount: $65,000,000
• Address: 2417 Third Avenue
• Market: South Bronx
• Square Footage: 176,000

ZG Capital Partners, represented by Bobby Zar and James Tamborlane, successfully acquired the property from Savanna and Hornig Capital Partners. This transaction highlights the growing interest in the South Bronx rental market and the confidence of ZG Capital Partners in this investment opportunity.