Acquires Retail Property From The Jemstone Group For $2.1M
2946 Third Avenue
$2,100,000
$600/SF
Building Size
3,500 SF
Asset Type
Retail
Closing
Dec 8, 2025
AI
The asset involved in this transaction is a retail property located at 2946 Third Avenue in the Bronx. The sale was completed for a price of $2,100,000, encompassing a total square footage of 3,500, resulting in a price per square foot of $600.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,100,000
- Address: 2946 Third Avenue
- Market: Bronx
- Square Footage: 3,500
- Price per Square Foot: $600
- Buyer:
- Seller: The Jemstone Group
- Senior Financing Provided by: Interaudi Bank in the amount of $1,365,000
- Capital Partner: Olyvian Capital Group LLC
The transaction was represented by , an entity sponsored by ES Acquisitions NY LLC, indicating the involvement of various stakeholders in the acquisition process alongside the general partner.
Players
Bronx 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93