Jorge Madruga Of MADDD Equities And Mark Stagg Of Stagg Group Form JV For $55M Development Site

The asset involved in this transaction is a development site located at 2740-2768 Webster Avenue in the Fordham market. The valuation of the property is $55,000,000, which highlights its significance in the current real estate landscape.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $55,000,000
• Joint Venture Partners: Jorge Madruga - MADDD Equities & Mark Stagg - Stagg Group
• Brokers: Jason M. Gold & Victor Sozio - Ariel Property Advisors

This transaction was facilitated by brokers Jason M. Gold and Victor Sozio of Ariel Property Advisors, who represented both parties in structuring a joint venture between two of the most active developers in the Bronx, emphasizing the collaboration between these major players in the market.