Association Of New York Catholic Homes Acquires Development Site In Tremont For $17 Million

The property asset involved in this transaction is a development site located at 1943-1951 Bathgate Avenue in the Tremont market. The site has a sale price of $17,000,000 and offers a buildable square footage (BSF) of 190,303, resulting in a price per buildable square foot (PPBSF) of $89.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $17,000,000
• Address: 1943-1951 Bathgate Avenue
• Market: Tremont
• BSF: 190,303
• PPBSF: $89
• Buyer: Association of New York Catholic Homes
• Seller: Roman Catholic Church of Saint Simon Stock & Saint Joseph

The key individuals involved in the transaction include the Association of New York Catholic Homes, which is acquiring the site for future residential development, and the Roman Catholic Church of Saint Simon Stock & Saint Joseph, the entity selling the property. Plans for a 251-unit residential development have already been filed with the city.