Commonpoint And Apex Development Group Acquire Development Site In Bronx From Madison Square Boys & Girls Club For $7.9M

The property involved in this transaction is a development site located at 1665 Hoe Avenue in the Bronx. The asset was sold for $7,900,000 and has a total square footage of 36,900, translating to a price per square foot of $214.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,900,000
• Address: 1665 Hoe Avenue
• Market: Bronx
• Square Footage: 36,900
• Price per Square Foot: $214
• Buyer: Commonpoint & Apex Development Group
• Seller: Madison Square Boys & Girls Club

The transaction was facilitated by Commonpoint, a nonprofit organization based in Queens, and Apex Development Group, known for their expertise in working with nonprofits on complex development projects. Leading the effort from Commonpoint are Danielle Ellman and Craig Lastres, while Andrew Esposito and Chris Karalis represent Apex. This partnership aims to redevelop a former YMCA building in the Claremont section to enhance community services.