Yochanan Cohen Acquires Development Site At 1185 Washington Avenue, Morrisania, Bronx For $950,000

The development site located at 1185 Washington Avenue in Morrisania, Bronx has been sold in a closed transaction. The property, situated in a strategic location, features an asking price of $999,000 and was ultimately sold for $950,000. The total buildable square footage (BSF) of the site is 19,298, offering ample space for potential development. With a price per buildable square footage (PPBSF) of $49, this property presents an attractive investment opportunity. The zoning classification for this site is R7-1, providing further flexibility for development plans.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $950,000
• Asking Price: $999,000
• Buildable Square Footage (BSF): 19,298
• Price per Buildable Square Footage (PPBSF): $49
• Zoning: R7-1

Exit Realty Group, represented by Otis Gore and Nadine Garcia, facilitated this transaction as the brokers involved. The seller of the property is Alfredo Ortiz, while Yochanan Cohen is the buyer. With their expertise and negotiation skills, Gore and Garcia successfully closed this deal, showcasing their proficiency in the real estate market.