Jorge Madruga Acquires Bronx Development Site For $16M

A development site located at 422 East 165th Street in Bronx has been sold for a total price of $16,000,000. The property spans across 50,500 square feet, resulting in a price per square foot of $317. The transaction took place on 06/28/2023.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $16,000,000
• Address: 422 East 165th Street
• Market: Bronx
• SF: 50,500
• PPSF: $317

Jorge Madruga has acquired the development site from Larry Baum. The deal was facilitated by Michael Gilbert from Gilco Realty, who acted as the broker representing both the buyer and the seller.