Guido Subotovsky - Azimuth Development Acquires Development Site In Longwood, Bronx From Uri Mermelstein & Joseph Yushuvayev - Top Rock Holdings For $4.3M

Azimuth Development Group's BMAD 3rd LLC, represented by Guido Subotovsky, has acquired an interest in a development site located at 2970 Third Avenue in Longwood, Bronx. The property was purchased from Top Rock Holdings' 2970 Enterprise LLC for a total of $4.3 million. The site is a development opportunity with a building square footage (BSF) of approximately 48,074 square feet, resulting in a price per BSF of $89. The total square footage of the property is 11,450, equating to a price per square foot (PPSF) of $374. The transaction took place on September 26, 2023.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,284,000
• BSF: 48,074
• PPBSF: $89
• SF: 11,450
• PPSF: $374
• Address: 2970 Third Avenue
• Market: Longwood, Bronx

Guido Subotovsky, representing Azimuth Development Group's BMAD 3rd LLC, facilitated the acquisition of the development site. Top Rock Holdings, represented by Uri Mermelstein and Joseph Yushuvayev, acted as the sellers in the transaction. Despite the sale, Top Rock Holdings will remain a joint venture partner for the property.