Azimuth Development Group Acquires Development Site At 1000 Walton Avenue In Bronx For $24M

The asset involved in this transaction is a development site located at 1000 Walton Avenue in the Bronx. The property was sold for $24,000,000, comprising a total of 223,342 zoning floor area with a price per zoning floor area of $107. The total square footage of the property is 84,920, translating to a price per square foot of $282.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24,000,000
• Address: 1000 Walton Avenue
• Market: Bronx
• Zoning Floor Area: 223,342
• Price per Zoning Floor Area: $107
• Square Footage: 84,920
• Price per Square Foot: $282
• Buyer: Azimuth Development Group - Guido Subotovsky & Scott Barone
• Broker Representatives: Joseph Moran, Frederick Richter, Patrick Madigan & Martin Cottingham - Avison Young

Barone Management and Azimuth Development have acquired the building with plans to renovate it into a new middle and high school to be operated by AECI Charter Schools.