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Durgaj Properties, Balfin Group & Bridge Asset Management Acquires Development Site From Triangle Equities For $24.75M In Bronx

Property Image
SOLD
$24,750,000
Giancarlo Cugini
Ethan Stanton
Brendan Maddigan
+ 1

New York

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Development Site286,955 SF
Sold 04/16/2026
the dealplayerscompscontact
Property Image
SOLD

Durgaj Properties, Balfin Group & Bridge Asset Management Acquires Development Site From Triangle Equities For $24.75M In Bronx

696 East Fordham Road

See Similar Deals
Development Site286,955 SF
Sold 04/16/2026
Giancarlo Cugini
Ethan Stanton
Brendan Maddigan
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$86
Total Square Footage:286,955 SF
Transaction Type:Sale

This development site located at 696 East Fordham Road in the Bronx has been sold for $24,750,000. The total building square footage is approximately 286,955, resulting in a price per building square foot of $86.

Summary of transaction details:

The transaction involved prominent buyers Durgaj Properties, Balfin Group, and Bridge Asset Management, with Triangle Equities serving as the seller. The deal was facilitated by the JLL brokerage team consisting of Brendan Maddigan, Ethan Stanton, Michael Mazzara, and Giancarlo Cugini.

Players

Brendan Maddigan
JLL
Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER
Ethan Stanton
JLL
Ethan Stanton
134 deals$6.2B volume(516) 790-7718
BROKER
Michael Mazzara
JLL
Michael Mazzara
111 deals$3.9B volume(212) 376-5450
BROKER
Giancarlo Cugini
JLL
Giancarlo Cugini
18 deals$126M volume(914) 552-6403
BROKER
Triangle Equities
Triangle Equities
SELLER

Details

SOLD
IMAGE: Brendan Maddigan, Ethan Stanton, Michael Mazzara & Giancarlo Cugini DATE: 4/16/2026 ADDRESS: 696 East Fordham Road MARKET: Bronx ASSET TYPE: Development Site BUYER: Durgaj Properties, Balfin Group & Bridge Asset Management SELLER: Triangle Equities BROKERS: Brendan Maddigan, Ethan Stanton, Michael Mazzara & Giancarlo Cugini - JLL (@JLL) SALE PRICE: $24,750,000 BSF: 286,955 ~ PPBSF: $86 NOTE: Durgaj Properties and Balfin Group acquired a parking lot for $22.5M, securing development rights for 370 apartments, while Bridge Asset Management purchased the office portion of the property for $2.75M.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$87,931.52
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