NEW YORK CITY-Retail investors Bobby Cayre and Alex Adjmi have reportedly signed a contract to acquire a large retail building in the South Bronx's Hub for $23.2 million.
Cayre, who leads Aurora Capital Associates, and Adjmi who is president of A&H Acquisitions, have agreed to acquire 2952 Third Ave., sources tell The Real Deal. The five-floor property totals nearly 176,000 square feet.
The seller was an affiliate of Richard Cohen's discount clothing retailer Conway Stores. Cohen is expected to retain a minority interest in the property. See story in The Real Deal.
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