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Cushman & Wakefield Sells Opportunity Zone Development Site Near Yankee Stadium

1/13/2020
Cushman & Wakefield announced today that the brokerage firm has arranged for the sale of 1000 Woodycrest Avenue, a 17,200-square-foot development site in The Bronx.
Bronx, NY — Cushman & Wakefield announced today that the brokerage firm has arranged for the sale of 1000 Woodycrest Avenue, a 17,200-square-foot development site in The Bronx. The final closing price was $1.125 million, equating to approximately $65 per square foot.

A Cushman & Wakefield team of Jonathan Squires, Robert Shapiro, Josh Neustadter, Michael Fioravanti, Addison Berniker and Shayne Soltan represented the seller.

“This development site experienced high demand due to a multitude of factors, including its location within an Opportunity Zone and its prime proximity to Yankee Stadium,” said Neustadter.

1000 Woodycrest Avenue is a corner 50’ by 100’ residential development site located within a Certified Opportunity Zone and a mere three blocks from Yankee Stadium. The property is located on the northeast corner of Woodycrest Avenue and West 164th Street in the up-and-coming Highbridge neighborhood of The Bronx. This area has experienced a wave of recent growth and revitalization, with key development projects such as Harlem River Yards, 2401 Third Avenue and 445 Gerard Avenue.

“The fact that we were able to put this property into contract within two weeks and achieve a closing price higher than the original asking price truly demonstrates the power of our team’s marketing process and Cushman & Wakefield’s platform,” added Shapiro.

The property is steps away from the 161st Street subway station with access to the B, D and 4 lines. It benefits from its close proximity to the Major Deegan Expressway, providing an efficient commute into Manhattan, New Jersey and Westchester County via the George Washington and Macombs Dam Bridge.

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.

Media Contact

Michael Boonshoft New York Communications
Michael Boonshoft

Communications Director • New York

Mr. Boonshoft is the Communications Director and leads strategic media relations and thought leadership efforts for New York, the Tri-State markets, as well as Capital Markets for the Americas.