Peter Fine Of Bolivar Development Acquires Development Site In Bronx For $13.9M

A development site located at 1959 Jerome Avenue in the Bronx has been sold for a total price of $13,926,960. The property, with a lot size of 212.86 ft x 88.99 ft, offers significant potential for development. The transaction took place on April 20, 2021.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $13,926,960
• Market: Bronx
• Address: 1959 Jerome Avenue

Peter Fine of Bolivar Development acted as the buyer in the transaction, while Marc Pogostin represented Tremont Garage Realty Corp. as the seller. The deal was facilitated by brokers Jonathan Squires, Michael Fioravanti, and Joshua Neustadter, who are associated with Team Shapiro Building Sales and Cushman & Wakefield.

This recent purchase is considered an addition to a larger assemblage play, with a total building square footage of 280,000 BSF. The acquisition of the development site further enhances the buyer's portfolio and presents an opportunity for ambitious development plans in the Bronx neighborhood.