Meridian’s Amit Doshi and Shallini Mehra just closed on the sale of 3405 Kossuth Ave., a six-story corner walkup building in the Norwood neighborhood of the Bronx. The 34,455-square-foot residential building includes 37 apartments and features 175 feet of wraparound frontage. The property traded for $5.15 million.
“The seller, David Katz of MacArthur Holdings as well as his partners, have owned the building for more than 25 years and have kept it in pristine condition, resulting in over 95% collections,” said Mehra. “This enclave is surrounded by parks on all sides with Montefiore Hospital in the center, making it an extremely desirable location for renters.”
Doshi added, “The purchaser, the Rugoya family, is a very experienced operator with vast holdings predominantly in the North Bronx. The acquisition of 3405 Kossuth is a welcome addition to their existing portfolio, and they likely won’t trade this property for decades.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!