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

Massey Knakal Sells Residential Development Site In Morris Heights

12/03/2013

A residential development site at 2065 Walton Avenue, located between East Burnside Avenue and West 181st Streetin the Morris Heights neighborhood of the Bronx, was sold in an all-cash transaction valued at $1,150,000.

The site contains approximately 7,643 square feet on a 75.17’ x 100.95’ lot.  Zoned R8, it allows for the construction of approximately 46,011 square feet of residential space, and the sale price equates to approximately $25 per buildable square foot.

This site is conveniently located near the 4 subway line at East Burnside and Jerome Avenues.  It is within minutes of High Bridge, New York City’s oldest standing bridge.  New York City recently began a restoration of this pedestrian crossing between Highbridge and Washington Heights in Upper Manhattan.  The property is in proximity to Yankee Stadium as well.

“The property sold to a supportive housing developer,” said Massey Knakal’s David Simone, who exclusively handled this transaction.  “It is in an ideal location near public transportation and Burnside Avenue, a major retail shopping corridor,” he added.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

12/03/2013 - 15:59

Source

Cushman & Wakefield Capital Markets Group New York

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