Atlantis Management Acquires Development Site In Bronx From The Melito Family For $6M

The property involved in this transaction is a development site located at 3083 Webster Avenue in the Bronx. The site is zoned for R7D and C2-4 use and covers a lot size of 125 ft x 120 ft. The transaction took place on 12/22/2020, with a selling price of $6,000,000. The building's square footage (BSF) is 84,000, resulting in a price per square foot (PPBSF) of $71. The buyer in this transaction was Jose Montero, representing Atlantis Management, while the seller was the Melito Family. The deal was facilitated by brokers Addison Berniker and Jonathan Squires from the Shapiro Investment Sales team at Cushman & Wakefield.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $6,000,000
• Address: 3083 Webster Avenue, Bronx
• Market: Bronx
• Zoning: R7D, C2-4
• Buyer: Jose Montero - Atlantis Management
• Seller: The Melito Family
• Brokers: Addison Berniker, Jonathan Squires
• Lot Size: 125 ft x 120 ft

The acquisition of this development site was facilitated by Jose Montero of Atlantis Management, with Addison Berniker and Jonathan Squires acting as brokers for the buyer. The seller, in this case, was the Melito Family. The deal closed on 12/22/2020 at a purchase price of $6,000,000. The property offers a buildable square footage (BSF) of 84,000 and a price per square foot (PPBSF) of $71. This transaction presents an opportunity for further development in the Bronx market.