Bronx, NY — Cushman & Wakefield announced today that the firm has been retained on an exclusive basis to sell four new residential developments located in the Bronx. The properties are situated in the Fairmont, Norwood and Fordham Heights neighborhoods.
A Cushman & Wakefield team comprised of Jonathan Squires, Jordan Sutton, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan are representing the sellers in all marketing efforts.
“The scale of these development sites will be extremely attractive to market-rate, affordable or supportive housing developers,” said Squires. “Additionally, the West Farms Road developments are located within Opportunity Zones, which make for large tax benefits.”
“The predevelopment and foundation work that has already been completed on these sites allow for more than shovel-ready projects,” added Sutton.
1731 West Farms Road is a residential development site with 57,762 buildable square feet located on the east side of West Farms Road between East 173rd and East 174th Streets in the Fairmont neighborhood. The plans call for a 70-unit building. The property is R7X zoned and is located within a Certified Opportunity Zone, which will provide significant tax benefits for future ownership. The asking price is $3.85 million.
1745 West Farms Road is a residential development site with 40,692 buildable square feet located on the southeast corner of West Farms Road and East 174th Street in Fairmont. The plans call for a 50-unit building and has demo permits in place. The property has R7X and C2-4 zoning and falls within a Certified Opportunity Zone. The asking price is $3.1 million.
2047 Ryer Avenue is a residential development site in Fordham Heights with 72,521 buildable square feet. Located on the west side of Ryer Avenue between East Burnside Avenue and East 180th Street, the site sits just two blocks east of the Grand Concourse. The property has R8 zoning and the drafted plans call for 91 residential units. The site is located within close proximity to St. Barnabas Hospital. The asking price is $5.6 million.
3254-3258 Parkside Place is a 98,158-buildable-square-foot residential development located in Norwood. Situated on the east side of Parkside Place between Webster Avenue and East 207th Street, this property has R7B zoning and is fully excavated and shovel-ready. Plans have been approved for a 98-unit residential building. The asking price is $6.5 million.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Cushman & Wakefield Retained as Exclusive Agent for Four Bronx Residential Properties
Cushman & Wakefield announced today that the firm has been retained on an exclusive basis to sell four new residential developments located in the Bronx.
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