July 16, 2020 Comments Off on Bronx Development Site Sells Quickly Views: 482 New York News, Uptown/Bronx New York

Bronx Development Site Sells Quickly

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Cushman & Wakefield arranged the sale of 5278 Post Rd., also known as 6301 Broadway, a 121,188-square-foot development site in the Fieldston neighborhood of Riverdale in the Bronx. The final sale price was $7,900,000, or $114 per above-grade residential buildable square foot.

A Cushman & Wakefield team of Jonathan Squires and Addison Berniker represented the seller. The buyer was reportedly the Stagg Group.

“This site sold quickly even in the midst of the pandemic, proving that the development market for scalable sites remains stronger than ever in the Bronx,” said Squires.

Berniker added, “The seller positioned the property well for sale by providing an almost shovel-ready project.”

5278 Post Rd. has 69,391 above-grade residential buildable square feet and an additional 51,797 buildable square feet for a community facility and parking garage in the cellar and subcellar. Plans have been approved to provide 95 residential units, 50 parking spaces and 11,406 square feet of community facility.

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