SOLD
Court Square RE Partners Acquires Development Site At 1298 Inwood Avenue In Highbridge, Bronx For $17M
1298 Inwood Avenue
Development Site
40,000 SF
40,000 SF
Sold 239 days ago
Summary
Sale
NEW YORK
Development Site
40,000 sqft
A development site located at 1298 Inwood Avenue in the Highbridge neighborhood of the Bronx has been sold for $17,000,000. The property spans approximately 40,000 square feet, resulting in a price per square foot of $425.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $17,000,000
- Address: 1298 Inwood Avenue, Highbridge, Bronx
The buyer, Court Square RE Partners, was represented by Nathan Horne of Compass, while the seller, Park-It Mgmt, was represented by Michael Kramer. The deal was successfully closed with the assistance of both buyer's and seller's representatives.
It is worth noting that the development site in question has a buildable square footage of 144,000, offering ample space for future construction. In addition to the negotiation of transactional terms, Court Square RE Partners collaborated with various New York City agencies to ensure the development of a 194-unit building suitable for a nonprofit organization.
For further inquiries, Nathan Horne of Compass can be reached at [email protected] or 706-255-5657. Michael Kramer, the seller's representative from Park-It Mgmt, can be contacted via mailto:[email protected] or 917-622-5154.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Nathan Horne, Alex Schwartz & Michael Kramer
DATE: 09/07/2023
ADDRESS: 1298 Inwood Avenue
MARKET: Highbridge, Bronx
ASSET TYPE: Development Site
BUYER: Court Square RE Partners (@Ctsqr)
BUYER'S REP: Nathan Horne (@Horne.Team) - Compass (@Compass) (@CompassNY)
SELLER'S REP: Michael Kramer (@MichaelKramermk) - Park-It Mgmt (@ParkitMgmt)
SALE PRICE: $17,000,000
SF: 40,000 ~ PPSF: $425
NOTE FROM BUYER'S REP: We are pleased to report the closing of 1298 Inwood/1295 Jerome Avenue, a development site in the Bronx with 144,000 BSF. The seller was represented by Michael Kramer of Park-it Mgmt, who skillfully kept the various sellers onboard even over a very long contract period and also facilitated the inclusion of this block into the Jerome Avenue Rezoning when it was not originally going to be rezoned. Michael can be contacted at mailto:[email protected]/917-622-5154.
The developer, Court Square RE Partners, worked with Nathan Horne of Compass to negotiate complicated transactional terms on the site as well as with New York City agencies in order to realize the development of a 194-unit building for a nonprofit organization. Court Square can be reached at [email protected]/646-202-1789 and Nathan can be reached at [email protected]/706-255-5657.
SALE
IMAGE: Nathan Horne, Alex Schwartz & Michael Kramer
DATE: 09/07/2023
ADDRESS: 1298 Inwood Avenue
MARKET: Highbridge, Bronx
ASSET TYPE: Development Site
BUYER: Court Square RE Partners (@Ctsqr)
BUYER'S REP: Nathan Horne (@Horne.Team) - Compass (@Compass) (@CompassNY)
SELLER'S REP: Michael Kramer (@MichaelKramermk) - Park-It Mgmt (@ParkitMgmt)
SALE PRICE: $17,000,000
SF: 40,000 ~ PPSF: $425
NOTE FROM BUYER'S REP: We are pleased to report the closing of 1298 Inwood/1295 Jerome Avenue, a development site in the Bronx with 144,000 BSF. The seller was represented by Michael Kramer of Park-it Mgmt, who skillfully kept the various sellers onboard even over a very long contract period and also facilitated the inclusion of this block into the Jerome Avenue Rezoning when it was not originally going to be rezoned. Michael can be contacted at mailto:[email protected]/917-622-5154.
The developer, Court Square RE Partners, worked with Nathan Horne of Compass to negotiate complicated transactional terms on the site as well as with New York City agencies in order to realize the development of a 194-unit building for a nonprofit organization. Court Square can be reached at [email protected]/646-202-1789 and Nathan can be reached at [email protected]/706-255-5657.View on map
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Address1298 Inwood Avenue
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