Jorge Madruga Acquires Development Site At 2740 Webster Avenue In Bronx For $10.3M

The development site located at 2740 Webster Avenue and 2737 Webster Avenue in the Bronx was sold for $10,300,000. The property has a building square footage of 112,287 and a price per building square foot of $91. Additionally, the site comprises 5,004 square feet with a price per square foot of $2,058.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $10,300,000
• Buyer: Jorge Madruga
• Seller: Edward Nerenberg
• Seller's Representatives: Thomas Donovan, Tommy Lin, Eugene Kim - Meridian Capital Group; Robert Rappa - Investment Property Realty Group
• BSF: 112,287
• PPBSF: $91
• SF: 5,004
• PPSF: $2,058

This transaction was notable as 2740 Webster Avenue went under contract while dealing with an MTA easement that required careful resolution prior to closing. This was a B6 Real Estate legacy transaction.