The Stagg Group Acquires Development Site In Riverdale For $7.9M

The development site located at 5278 Post Road in Riverdale has been sold in a closed transaction. The property had an asking price of $8,500,000 and was eventually sold for $7,900,000. With a total buildable square footage of 69,391, the price per buildable square foot is $115.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $7,900,000
• Address: 5278 Post Road, Riverdale
• Market: Riverdale
• Asking Price: $8,500,000
• Buildable Square Footage (BSF): 69,391
• Price per Buildable Square Foot (PPBSF): $115

The seller of the property was the Varkaris Family, while the buyer was The Stagg Group represented by Mark Stagg. The transaction was facilitated by Addison Berniker and Jonathan Squires of Cushman & Wakefield.