New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


New York & Tri-State  + Outer  + Apartments  | 

Ben Novic Buys Bronx MF Building for $5M 

Ben Novic has bought a six-story multifamily building in the Bronx from Joey Yasgur for $5.25 million. The property, located at 4030 Bronx Blvd. between East 226th and East 228th Street, comprises 53 apartments and spans 50,338 square feet.  

Built in 1929, the property was sold at a cap rate of 8.1% and a gross rent multiplier (GRM) of 6.6, with a per-unit price of $99,000. The buyer acquired the property as a strategic addition to their existing portfolio of similar buildings in the area. 

Rosewood Realty Group’s Ben Khakshoor, Alex Fuchs, and Aaron Jungreis, along with GFI’s Zach Fuchs, represented both the buyer and the seller in the transaction. 


Inside The Story

Ben Khakshoor

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action