Stagg Group Acquires Wakefield Development Site From Montefiore Hospital For $5.7M

A development site in Wakefield has been sold for a price of $5,700,000. The property, located at 633, 637, and 639 East 232nd Street, as well as 4178 and 4176 Carpenter Avenue, offers significant potential for development. With a buildable square footage (BSF) of 63,075 and a price per buildable square footage (PPBSF) of $90, this site provides a valuable opportunity for future construction.

Summary of transation details

• Property Type: Development Site 🏗
• Transaction Amount: $5,700,000
• Address: 633, 637, and 639 East 232nd Street & 4178 and 4176 Carpenter Avenue, Wakefield
• Market: Wakefield

The buyer of the property is Stagg Group, represented by Mark Stagg. The seller of the development site is Montefiore Hospital, a well-known healthcare institution. The transaction was facilitated by the brokerage team known as Team Lala, consisting of Michelle Lala, David Raciti, Marco Lala, Jack Lala, and Chris O'Callaghan from RM Friedland.