SKF Development Acquires 99-Year Ground Lease On West Farms Development Site | 1760 Boone Avenue | Isaac Shrem, Steven Westreich | Development Site | Sale

Summary

Sale

NEW YORK

Development Site

2,276 sqft

An $82 million 99-year ground lease was arranged by Westbridge Realty Group for a development site in West Farms, Bronx. The site, located at 1760 Boone Avenue, spans 68,000 square feet and has a total lease value of $82 million. The deal was closed on 12/11/2018.

Summary of transaction details

Property Type: Development Site
Transaction Amount: $82,000,000
BSF: 68,000
Seller: Patrick Connolly
Buyer: SKF Development - Kim Tasher
Brokers: Steven Westreich & Isaac Shrem - Westbridge Realty Group

Steven Westreich and Isaac Shrem from Westbridge Realty Group were the brokers involved in facilitating the ground lease. They successfully closed over 50 deals in 2018 at Westbridge. No additional information is available about the transaction.

Players

All
3

Agents
2
Agencies
1

$84.9M Sold

$93.9M Sold

Westbridge Realty Group

Details

Deal Summary

SOLD

IMAGE: YEAR GROUND LEASE IMAGE: Steven Westreich and Isaac Shrem DATE: 12/11/2018 ADDRESS: 1760 Boone Avenue MARKET: West Farms, Bronx ASSET TYPE: Development Site SALE PRICE: $82,000,000 BSF: 68,000 SELLER: Patrick Connolly BUYER: SKF Development - Kim Tasher BROKERS: Steven Westreich (@swestreich) & Isaac Shrem (@ikethakike) - Westbridge Realty Group NOTES: Westbridge Realty Group arranged a 99-year ground lease with a total lease value of $82MM. Over 50 deals closed in 2018 at Westbridge.

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Address1760 Boone Avenue

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