The asset involved in this transaction is a development site located at 1959 Jerome Avenue in the Bronx. The sale price for the property was $22,577,500, with a total square footage of 249,898. The price per square foot amounted to $90, reflecting the market value associated with this development opportunity.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $22,577,500
• Building Square Footage: 249,898
• Price Per Building Square Foot: $90
• Buyer: Maddd Equities & Joy Construction
• Seller: Atlantic Development Group
• Brokers: Mitchel Flaherty, Brian Whelan & Jonathan Auerbach - Ripco

The key individuals facilitating this transaction include representatives from Ripco, namely Mitchel Flaherty, Brian Whelan, and Jonathan Auerbach, playing essential roles in bridging the buyer, Maddd Equities & Joy Construction, and the seller, Atlantic Development Group. Their involvement underscores the collaborative efforts in the successful closure of this real estate transaction.