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3971 Gouverneur Avenue, Bro...

Updated Oct 29, 2024

3971 Gouverneur Avenue Rental Building In Bronx Sold For $14.2M By Buyer 3971 Gouverneur And Seller Hds Funding Company
SOLDRetail

3971 Gouverneur Avenue Rental Building In Bronx Sold For $14.2M By Buyer 3971 Gouverneur And Seller Hds Funding Company

3971 Gouverneur Avenue, Bronx, NY 10463, USA

$14,225,000

$217/SF

Building Size

65,394 SF

Asset Type

Retail

Closing

Nov 13, 2017

About this deal

AI

The rental building located at 3971 Gouverneur Avenue in New York, Bronx, was recently sold in a closed transaction for a total price of $14,225,000. The property spans over 65,394 square feet, resulting in a price per square foot of $217. The seller of the building was Hds Funding Company, while the buyer was 3971 Gouverneur. The deal was facilitated by Rosewood Realty Group's Aaron Jungreis, Mike Kerwin, and Ben Khakshoo.

Summary of transaction details

  • Property Type: Rental Building
  • Transaction Amount: $14,225,000
  • Address: 3971 Gouverneur Avenue, New York, Bronx
  • Market: Bronx
  • Square Footage: 65,394 sf
  • Price per Square Foot: $217
  • Seller: Hds Funding Company
  • Buyer: 3971 Gouverneur
  • Broker: Rosewood Realty Group's Aaron Jungreis, Mike Kerwin, and Ben Khakshoo

The involvement of Rosewood Realty Group's Aaron Jungreis, Mike Kerwin, and Ben Khakshoo in this deal highlights their expertise in the real estate market. Their representation of both the buyer and seller showcases their ability to facilitate successful transactions. This closed deal demonstrates the growing demand for rental buildings in the Bronx market, with the property's size and price per square foot contributing to its appeal.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.4B

vol

214 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $217 per square foot on a published $14.2M for 65,394 square feet (2017).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.12%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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