3971 Gouverneur Avenue (between Van Cortlandt Park South and Van Cortlandt Avenue West)
Kingsbridge Heights, Bronx
An investor has bought this 1928 six-story elevator building with 67 apartments — six studios, 37 one-bedrooms, 13 two-bedrooms, five three-bedrooms and six four-bedrooms — of which 36 were vacant. The 65,394-square-foot building sold for 12.58 times the rent roll, and offers a cap rate of 5.23 percent.
Buyer: 3971 Gouverneur
Seller: Hds Funding Company
Brokers: Aaron Jungreis, Mike Kerwin and Ben Khakshoor, Rosewood Realty Group
$160,975 approximate annual rent
8 West 38th Street (between Fifth Avenue and Avenue of the Americas)
J. Press, the men’s wear clothier founded on the Yale campus in 1902, has signed a seven-year lease for a 3,425-square-foot space with floor-to-ceiling windows for its offices and showroom on the second floor of this 12-story building in the garment district facing the Lord & Taylor department store. J. Press will be moving from SoHo by the end of the year. The building, which has three elevators and a freight elevator, also has two other prebuilt units for lease on the second floor.
Tenant: J. Press
Tenant’s Brokers: Yayoi Tsuchiya and Namiko Sako, Sumitomo Real Estate Sales
Landlord: Fraglow Realty
Landlord’s Brokers: Andy Udis and Ron Zimmerman, ABS Partners Real Estate
$274,940 approximate annual rent
152 Madison Avenue (at East 32nd Street)
A five-to-10-year lease is available in NoMad for the entire 17th floor of this 1929 Art Deco 23-story office building with a lobby attendant. The 4,660-square-foot space has new windows, polished concrete floors, an exposed ceiling and tenant-controlled air conditioning.
Owner: Heskel’s Paramount
Brokers: Andy Udis and Ron Zimmerman, ABS Partners Real Estate