New York, NY - A 23,021-square-foot residential development site in the Bronx.
A Cushman & Wakefield team consisting of Jonathan Squires, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan will be leading the marketing efforts on behalf of the property’s seller.
“The market is seeing increased interest in properties for sale in opportunity zones,” said Jonathan Squires of Cushman & Wakefield. “This property is an ideal development site for an investor interested in capitalizing on the tax benefits of the program in an up-and-coming neighborhood in the Bronx.”
“This opportunity will allow a developer to create a high quality, sought-after apartment building in a prime area of the Bronx between Fordham University and the Bronx Botanical Gardens,” added Josh Neustadter of Cushman & Wakefield.
773 Grote Street is a residential development site with approximately 23,021 buildable square feet. The property is located on the north side of Grote Street between Prospect Avenue and Southern Boulevard in the Belmont neighborhood of the Bronx. The property falls within one of the federally-approved opportunity zones, providing future ownership with the rare opportunity to acquire and develop a property that allows for significant tax benefits.
773 Grote Street is located in proximity to major Bronx institutions, including Fordham University, St. Barnabas Hospital and The Bronx Zoo and Botanical Garden. The property is also within walking distance of the 182nd-183rd Street Subway Station with access to the B and D trains, as well as multiple bus routes that canvass the neighborhood.
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.
