Joseph Safdie Acquires Development Site In Bronx From Arther Spitzer For $1.3M

A development site located at 1412 College Ave. in Bronx has been sold for $1,300,000. The property spans 10,750 square feet, resulting in a price per square foot of $120. The transaction took place on July 7, 2021, with Joseph Safdie as the buyer and Arther Spitzer as the seller. The property was financed by Ice Cap Group, represented by Joseph Oved, Joey Bekar, Ezra Dweck, and Jack Oved.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $1,300,000
• Address: 1412 College Ave.
• Market: Bronx
• Buyer: Joseph Safdie
• Seller: Arther Spitzer
• Lender: Ice Cap Group
• FSB: 10,750
• PPSBF: $120

Joseph Safdie, the buyer in this transaction, is affiliated with Jsaf Capital, which actively seeks properties in Brooklyn, Bronx, Queens, and Manhattan. They are interested in 2-4 family residential buildings, multi-family stabilized units ranging from 6 to 60 units, and development sites. The financing for this deal was provided by Ice Cap Group, who facilitated a quick and seamless process at favorable rates. Jsaf Management played a key role in managing the real estate and underwriting for this transaction.