Vaya Development & Chera Realty JV Acquires Development Site In Mount Hope, Bronx For $5.45M

A development site located at 1940-1942 Jerome Avenue in Mount Hope, Bronx has been sold for a price of $5,450,000. The property spans 80,000 square feet and is designated as a development site. The sale took place on December 30, 2021.

Summary of transaction details

• Property Type: Development Site
• Sale Price: $5,450,000
• Address: 1940-1942 Jerome Avenue, Mount Hope, Bronx
• Transaction Date: 12/30/2021
• Market: Mount Hope, Bronx

The buyer of the property is a joint venture between Vaya Development and Chera Realty, represented by Steven Chera and Raymond Chera. The seller of the property is Sonny Tran. The brokers involved in the transaction are Ceasar Salama from Kassin Sabbagh Realty and Scott Dweck from Latitude Property Group.

It is worth noting that Kassin Sabbagh Realty (KSR) and Latitude Property Group have formed a partnership to undertake the acquisition and development of mixed-use affordable housing projects. This collaboration marks the third transaction of its kind between KSR and Latitude within the past few years.

For more information, interested parties may contact Ceasar Salama at (908) 675-2158 or via email at [email protected].