SOLD
Shimshon Grunstein Acquires Mott Haven Ground Lease For $108M
550 Trinity Avenue & 571 Jackson Avenue
Development Site
52,318 SF
52,318 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Development Site
52,318 sqft
The property involved in this transaction is a development site located at 550 Trinity Ave. & 571 Jackson Ave. in the Mott Haven area of Bronx. The asset type is a ground lease on a 15,209 square feet lot. The deal was closed on 2/25/2019.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $108,000,000
- Brokers: Michael Ferrara from Brax Realty NYC and Dan Thompson from Savills Studley
The seller in this transaction was Jay Friedlander, while the buyer was Shimshon Grunstein. The brokers, Michael Ferrara from Brax Realty NYC and Dan Thompson from Savills Studley, exclusively represented the landlord and procured the lessee. The ground lease is for a period of 99 years and has a total lease value of $108M. The brokers successfully arranged the deal on behalf of their clients.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: LEASE
IMAGE: Michael Ferrara & Daniel Thompson
DATE: 2/25/2019
ADDRESS: 550 Trinity Ave. & 571 Jackson Ave.
MARKET: Mott Haven, BX
ASSET TYPE: Development Site
SELLER: Jay Friedlander
BUYER: Shimshon Grunstein
BROKERS: Michael Ferrara @braxrealtynyc & Dan Thompson - Savills Studley
SALE PRICE: $108,000,000
BSF: 52,318
NOTES: The brokers exclusively represented the landlord and procured the lessee in arranging a 99-year ground lease on a 15,209 SF lot with a total lease value of $108MView on map
Loading...
Address550 Trinity Avenue & 571 Jackson Avenue
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want