Peter Fine's Atlantic Development Group Acquires Development Site In Morris Heights, Bronx For $6.9M

An undisclosed buyer has acquired a development site located at 1941 Jerome Avenue in the Morris Heights neighborhood of Bronx. The transaction, which took place on April 20, 2021, involved a sale price of $6,900,000. The site has a building square footage (BSF) of 90,535 and a price per BSF (PPBSF) of $76. Furthermore, the property spans a total area of 29,928 square feet with a price per square foot (PPSF) of $230.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $6,900,000
• BSF: 90,535
• PPBSF: $76
• SF: 29,928
• PPSF: $230
• Address: 1941 Jerome Avenue, Morris Heights, Bronx

Peter Fine from Atlantic Development Group acted as the buyer in this deal, while Rich Cisternas represented the seller, 1941 Jerome Ave Realty Corp. The transaction was facilitated by brokers Marco Lala, David Raciti, Jack Lala, and Michelle Lala from TeamLalaCRE MFriedland.

Note: No additional information was provided regarding the development site.