Peter Fine Acquires Development Site On Jerome Avenue In Bronx From Michael Harbater For $5.5M
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This Development Site property located in NY was sold for $6,000,000 almost 3 years ago. The brokers of the deal were Mitchel Flaherty and DJ Johnston
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- Location1956 Jerome Avenue, Bronx, NY 10453, USA
- Sale Price$6,000,000$291 PPSF
- Area20,600 SF
- Asset TypeDevelopment Site
- Parties2 Brokers, 2 Agencies
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Deal Summary
SALE
IMAGE: Mitchel Flaherty & DJ Johnston
DATE: 04/15/2021
ADDRESS: 1956 Jerome Avenue
MARKET: Bronx
ASSET TYPE: Development Site
BUYER: Peter Fine
SELLER: Michael Harbater
SELLER'S REP: DJ Johnston (@B6RealEstate_JohnstonTeam) & Mitchel Flaherty (@MFlaherty_B6) - @B6RealEstate Advisors
ASKING PRICE: $6,000,000
SALE PRICE: $5,500,000
BSF: 75,000 ~ PPBSF: $73
NOTE FROM @B6RealEstate: The Brit in the Bronx strikes again! 🇬🇧 Mitchel Flaherty (The Brit) along with DJ Johnston (not a Brit) have successfully sold 1956 Jerome Avenue, a 100' x 107' corner lot with an FAR of 7.2, or 75,000 BSF. The site will make way for 100+ units of affordable housing, rising upwards of 12+ stories.
Peter Fine purchased the site, closing in 30 days of contract signing, a rare term for an affordable housing transaction, which typically takes upwards of 18-24 months. Peter is one of the most active developers in the Bronx, and showcased his confidence and experience by executing swiftly and smoothly. It was a pleasure working with him.
B6's territory model allows the firm to understand each sub-market on a block by block basis, and promotes communication amongst brokers by eliminating internal competition. It is this collaboration that makes us such a strong resource in the market. Connect with us to see how you can benefit from our collective insight and what we learned during this particular assignment.
👤DJ Johnston (Brooklyn)
📱 914-584-7422
📧 [email protected]
👤Mitch Flaherty (Bronx)
📱917-348-0242
📧[email protected]
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1956 Jerome Avenue
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