The asset involved in this transaction is a development site located at 450 Bedford Park Boulevard in the Bronx, with a ground lease price of $15,000,000. The site encompasses a total square footage of 43,202, translating to a price per square foot of $347. The building has been assessed with a building square footage (BSF) of 177,000, resulting in a price per building square foot (PPBSF) of $84.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,000,000
• Address: 450 Bedford Park Boulevard
• Market: Bronx
• Buyer: Chris Albanese
• Seller: New York Botanical Gardens
• Brokers: Frank Liantonio, Jonathan Squires, Joshua Neustadter & Austin Weiner - Cushman & Wakefield

This transaction highlights the involvement of key personnel, including brokers Frank Liantonio, Jonathan Squires, Joshua Neustadter, and Austin Weiner, representing the buyer and seller in this ground lease agreement. Their expertise facilitated the transition of this development site from New York Botanical Gardens to Chris Albanese.