Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Sells Residential Development Site - 140,000 Buildable Square Feet in Bedford Park

03/18/2015

A development site at 150 Van Cortlandt Avenue East, located just steps from Mosholu Parkway and Grand Concourse in the Bedford Park neighborhood of the Bronx, was sold in an all-cash transaction valued at $6,800,000.

The property is an approximately 19,811 square foot lot with 190’ of frontage on Van Cortlandt Avenue East.  Currently an operating service station and formerly a gasoline fill station, all underground gasoline tanks were removed in February 1997.  The site holds approximately 142,639 buildable square feet, with the sale price equating to approximately $48 per buildable square foot.

The property benefits from excellent transportation options.  It is six blocks from the 4 and D trains at the Bedford Park station and the area is serviced by several express and local bus lines.  It is also a short walk to Van Cortlandt Park, the Mosholu Parkway greenway, Lehman College, Bronx High School of Science and DeWitt Clinton high School.

“This site has it all - location, scale, and great access to parks and transportation.  The Bronx development market continues to strengthen as market-rate developers take a closer look at the borough while land values elsewhere are triple the cost,” said Cushman & Wakefield’s Karl Brumback, who exclusively handled this transaction.

03/18/2015 - 21:15

Source

Cushman & Wakefield Capital Markets Group New York

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