facebook
Traded Co logo
Submit

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

Property Image
SOLD
$55,000,000
Victor Sozio
Jason M. Gold
Mark Stagg
+ 1

New York

See Similar Deals
Development Site7,500 SF
Sold 04/15/2025
the dealplayerscompscontact
Property Image
SOLD

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

2740 Webster Avenue

See Similar Deals
Development Site7,500 SF
Sold 04/15/2025
Victor Sozio
Jason M. Gold
Mark Stagg
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$7,333
Total Square Footage:7,500 SF
Transaction Type:Sale

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:

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.

Players

Jason M. Gold
Ariel Property Advisors
Jason M. Gold
59 deals$1B volume
BROKER
Victor Sozio
Ariel Property Advisors
Victor Sozio
111 deals$2.3B volume
BROKER
Mark Stagg
Mark Stagg
14 deals$357.8M volume
BUYER
Jorge Madruga
Maddd Equities
Jorge Madruga
23 deals$749.5M volume
BUYER

Details

SOLD
IMAGE: STRUCTURE IMAGE: Jason M. Gold & Victor Sozio DATE: 4/16/2025 ADDRESS: 2740-2768 Webster Avenue MARKET: Fordham ASSET TYPE: Development Site JOINT VENTURE PARTNERS: Jorge Madruga - MADDD Equities (@Maddd_Equities) & Mark Stagg - Stagg Group BROKERS: Jason M. Gold (@JGold_Real_Estate) & Victor Sozio - Ariel Property Advisors (@ArielPA.NYC) VALUATION: $55,000,000 NOTE FROM BROKER: APA represented both parties in structuring a JV between 2 of the most active developers throughout the Bronx.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,933,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$195,403.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$260,728.06
Annual Debt Service$3,128,736.72