September 13, 2019
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.
Connect National Investment & Finance is coming to New York on Oct. 23. For more information, or to register, click here.
Connect Opportunity Zones will be presented for the first time on Oct. 23 in New York. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny