Beitel Group Acquires Development Site From Lightstone Group In Bronx For $84M

The asset involved in this transaction is a development site located at 355 Exterior Street in the Bronx. The sale price was $84,000,000, with a total building square footage (BSF) of 566,212 and a price per building square foot (PPBSF) of $148. The site also has a total square footage (SF) of 189,019, which results in a price per square foot (PPSF) of $444.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $84,000,000
• Buyer: Beitel Group
• Seller: Lightstone Group
• Broker: Adam Veit - CAPITAL PROPERTY PARTNERS

Key individuals involved in the deal include Beitel Group as the buyer and Lightstone Group as the seller, facilitating the exchange under the representation of Adam Veit from CAPITAL PROPERTY PARTNERS. This transaction showcases the collaboration between these established entities within the real estate market.