Galaxy Development Acquires Development Site In Kingsbridge Heights For $1.5M

Galaxy Development has acquired a development site located at 3050 Bailey Ave in Kingsbridge Heights. The property, sold by Herb Freedman, was transacted for a price of $1,525,000. The development site has a building square footage (BSF) of 19,400, resulting in a price per square footage (PPSF) of $78.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,525,000
• Address: 3050 Bailey Ave
• Market: Kingsbridge Heights
• Buyer: Galaxy Development - Steve Zervoudis
• Seller: Herb Freedman
• Brokers: Giancarlo Cugini & Karl Brumback - JLL
• BSF: 19,400
• PPBSF: $78

Giancarlo Cugini and Karl Brumback from JLL represented the buyer, Galaxy Development, in this transaction.