May 21, 2020
Cushman & Wakefield arranged the sale of 6375 Broadway, a 55,142-buildable-square-foot development site in the Riverdale neighborhood of the Bronx. The final price was $4,750,000.
A Cushman & Wakefield team of Robert Shapiro, Jonathan Squires and Addison Berniker represented the seller in the transaction. Longtime Bronx developer Stagg Group purchased the site and plans to build 77 apartments.
“It was a pleasure working with a creative and sophisticated seller who provided a developable lot from what was once just a yard,” said Shapiro.
“This site is ideal for an experienced developer like Stagg Group, and it’s clear they saw the long-term potential of such a rare opportunity to build on Broadway in Riverdale,” added Squires.
The site was recently divided from the Riverdale Home for Adults. Located on the Broadway Corridor, the site offers convenient access to a multitude of amenities and is across the street from Van Cortlandt Park.
Image credit: Richard Bienenfeld Architects.
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