September 13, 2019 Comments Off on Norwood Site Assemblage Trades to Nonprofit Views: 633 New York News, Uptown/Bronx New York

Norwood Site Assemblage Trades to Nonprofit

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Cushman & Wakefield finalized the sale of 3095-3101 Webster Ave., a 66,500-square-foot development site in the Bronx’s Norwood neighborhood. Buyer GEEL Community Services paid $4,950,000, or approximately $74-per-square-foot.

A Cushman & Wakefield team of Jonathan Squires, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan coordinated the three-property assemblage of 3095-3101 Webster and arranged the sale.

“The sale of the 3095-3101 Webster represents the value that assemblages provide to developers,” said Squires. “We also continually see a pattern of nonprofit organizations becoming extremely competitive buyers in today’s market.”

The site includes two two-family residential properties and a parking lot. The property is located within walking distance to the 205th Street Subway Station, with access to the D train and benefits from numerous bus lines that canvas the neighborhood. It’s also within minutes of Fordham University’s campus.

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