Verizon Acquires Industrial Property In The Bronx For $21M

Verizon has acquired an industrial property located at 470, 480, 500 & 502 Zerega Avenue in The Bronx. The property, sold by Del Balso Construction Corporation and Peter C. Marron, spans a total of 118,270 square feet. The transaction was facilitated by brokers Josh Kuriloff, Jonathan Squires, Dale Braverman, Josh Neustadter, Rico Murtha, and Austin Weiner from Cushman & Wakefield. The sale price for the property was $21,000,000, resulting in a price per square foot of $178.

Summary of Transaction Details:

• Property Type: Industrial
• Transaction Amount: $21,000,000
• Address: 470, 480, 500 & 502 Zerega Avenue, The Bronx
• Market: The Bronx
• Buyer: Verizon
• Seller: Del Balso Construction Corporation - Peter C. Marron
• Brokers: Josh Kuriloff, Jonathan Squires, Dale Braverman, Josh Neustadter, Rico Murtha & Austin Weiner - Cushman & Wakefield
• Square Footage: 118,270
• Price per Square Foot: $178

This sale marks a significant transaction in The Bronx's industrial real estate market, showcasing Verizon's investment in the area. The property's strategic location and ample square footage make it a valuable asset for Verizon's operations. The involvement of multiple brokers from Cushman & Wakefield demonstrates the collaborative effort in successfully closing the deal.