New York, NY – The final closing price is $4,950,000, equating to approximately $74 per square foot.
Cushman & Wakefield’s Jonathan Squires, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan coordinated the three-property assemblage of 3095-3101 Webster Avenue and ultimately sold the development site to GEEL Community Services.
“The sale of the 3095-3101 Webster Avenue represents the value that assemblages provide to developers,” said Squires. “We also continually see a pattern of nonprofit organizations becoming extremely competitive buyers in today’s market.”
3095-3101 Webster Avenue is a 66,500-square-foot development site in the Norwood neighborhood of the Bronx. The site includes two two-family residential properties and a parking lot.
3095-3101 Webster Avenue is located on the west side of Webster Avenue between East 204th Street and East Mosholu Parkway North in the Bronx. The property is located within walking distance to the 205th Street Subway Station with access to the D train and benefits from numerous bus lines that canvas the neighborhood. It is also within minutes from Fordham University’s campus.
About Cushman & WakefieldCushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
