Monarch Realty Holdings Sells Development Site In Mount Eden For $4.6M With Brokers Daniel Mahfar & Jason M. Gold

The property asset involved in this transaction is a development site located at 1408 Cromwell Avenue in the Mount Eden market. The sale price of the property was $4,600,000, and it encompasses a building square footage (BSF) of 62,417, which translates to a price per building square foot (PPBSF) of $74.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,600,000
• Address: 1408 Cromwell Avenue
• Market: Mount Eden
• Building Square Footage: 62,417
• Price per Building Square Foot: $74
• Seller: Monarch Realty Holdings - Kevin Shahery
• Broker Representatives: Daniel Mahfar & Jason M. Gold - Ariel Property Advisors

The deal involved key individuals, including Kevin Shahery, representing the seller, Monarch Realty Holdings. The brokers facilitating the transaction were Daniel Mahfar and Jason M. Gold from Ariel Property Advisors. Ariel Property Advisors is currently marketing over 1,600 multifamily units and over 600,000 buildable square feet in the Bronx, covering free market, affordable, vacant, and conversion opportunities.