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2304 Jerome Avenue

Gary Spindler Acquires Retail Property In Fordham, Bronx For $1.55M
SOLDRetail

Gary Spindler Acquires Retail Property In Fordham, Bronx For $1.55M

2304 Jerome Avenue

$1,550,000

$347/SF

Building Size

4,465 SF

Asset Type

Retail

Closing

Sep 20, 2023

AI

A retail property located at 2304 Jerome Avenue in Fordham, Bronx has been sold for a price of $1,550,000. The property has a total area of 4,465 square feet, resulting in a price per square foot of $347.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,550,000
  • Square Footage: 4,465
  • Address: 2304 Jerome Avenue, Fordham, Bronx
  • Market: Fordham, Bronx

The deal was facilitated by Giancarlo Cugini and Karl Brumback of JLL, who represented both the buyer, Gary Spindler, and the seller, The Rosenberg Family. The transaction marks an important milestone for all parties involved.

Players

Karl Brumback

JLL

Broker

$388.3M

vol

25 deals

Broker
Gary Spindler

Gary Spindler

Park-It Management

Buyer

$111.3M

vol

6 deals

Buyer

Rosenberg Family

Seller

$116.5M

vol

4 deals

Seller

Market Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.23%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93