Stagg Group Acquires Development Site At 418 North Division Street For $3.65 Million

The development site located at 418 North Division Street in Peekskill was sold for $3,650,000. The asset encompasses a total building square footage of 42,684, resulting in a price per building square foot of $85.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,650,000
• Building Square Feet: 42,684
• Price Per Building Square Foot: $85
• Buyer: Stagg Group
• Seller: CW Realty
• Brokers Involved: DJ Johnston & Robert Anderson - Matthews Real Estate Investment Services
• Date of Transaction: 11/14/2024
• Market: Peekskill

The auction sale was facilitated by DJ Johnston, partnering with Anthony Gaitan of Crexi. This collaborative effort resulted in a successful transaction completed in under 75 days, showcasing the effectiveness of local brokers and auction platforms to foster competition in real estate sales.