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

Property Image
SOLD
$6,900,000
Michelle Lala
Marco Lala
Jack Lala
+ 2

New York

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Development Site29,928 SF
Sold 04/20/2021
the dealplayerscompscontact
Property Image
SOLD

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

1941 Jerome Avenue, Morris Heights, Bronx, NY, USA

See Similar Deals
Development Site29,928 SF
Sold 04/20/2021
Michelle Lala
Marco Lala
Jack Lala
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$230
Total Square Footage:29,928 SF
Transaction Type:Sale

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.

Players

Jack Lala
RM Friedland
Jack Lala
11 deals$107.1M volume(914) 447-8693
BROKER
Marco Lala
RM Friedland
Marco Lala
13 deals$115.7M volume(914) 843-3535
BROKER
Michelle Lala
RM Friedland
Michelle Lala
11 deals$107.1M volume(973) 405-1394
BROKER
David Raciti
RM Friedland
David Raciti
11 deals$107.1M volume
BROKER
Peter Fine
Peter Fine
20 deals$477.2M volume
BUYER

Details

SOLD
IMAGE: David Raciti, Jack Lala, Marco Lala & Michelle Lala DATE: 04/20/2021 ADDRESS: 1941 Jerome Avenue MARKET: Morris Heights, Bronx ASSET TYPE: Development Site BUYER: Peter Fine - Atlantic Development Group SELLER: Rich Cisternas - 1941 Jerome Ave Realty Corp. BROKERS: Marco Lala, David Raciti, Jack Lala & Michelle Lala @TeamLalaCRE - @RMFriedland SALE PRICE: $6,900,000 BSF: 90,535 ~ PPBSF: $76 SF: 29,928 ~ PPSF: $230

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