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Deals & Dealmakers

ON THE SCENE: JLL Capital Markets selected to market 3041 Webster Avenue in the Bronx

AGENTS

JONATHAN SQUIRES

Cushman & Wakefield have been retained for the sale of four new residential developments located in Fairmont, Norwood and Fordham Heights neighborhoods. Jonathan Squires, Jordan Sutton, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan are representing the sellers. The properties include:

• 1731 West Farms Road is a residential development site with 57,762 buildable square feet located on the east side of West Farms Road between East 173rd and East 174th Streets in the Fairmont neighborhood. The plans call for a 70-unit building. The property is R7X zoned and is located within a Certified Opportunity Zone, which will provide significant tax benefits for future ownership. The asking price is $3.85 million.

• 1745 West Farms Road is a residential development site with 40,692 buildable square feet located on the southeast corner of West Farms Road and East 174th Street in Fairmont. The plans call for a 50-unit building and has demo permits in place. The property has R7X and C2-4 zoning and falls within a Certified Opportunity Zone. The asking price is $3.1 million.

• 2047 Ryer Avenue is a residential development site in Fordham Heights with 72,521 buildable square feet. Located on the west side of Ryer Avenue between East Burnside Avenue and East 180th Street, the site sits just two blocks east of the Grand Concourse. The property has R8 zoning and the drafted plans call for 91 residential units. The site is located within close proximity to St. Barnabas Hospital. The asking price is $5.6 million.

• 3254-3258 Parkside Place is a 98,158-buildable-square-foot residential development located in Norwood. Situated on the east side of Parkside Place between Webster Avenue and East 207th Street, this property has R7B zoning and is fully excavated and shovel-ready. Plans have been approved for a 98-unit residential building. The asking price is $6.5 million.

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KARL BRUMBACK

JLL Capital Markets has been selected to market 3041 Webster Avenue in the Bronx, N.Y. The 15,000 s/f site is located in the Norwood neighborhood. The owner of the former Sam’s Floor Coverings is asking $6.5 million for the property. The site offers an 85,000-buildable-square-foot development opportunity that currently houses a vacant 15,000 s/f two-story commercial fireproof warehouse, which was formerly a carpet retail operation. 3041 Webster Avenue is located in an inclusionary housing zone and benefits from R7D/C2-4 zoning. The property lies on the west side of Webster Avenue and is just north of Mosholu Parkway, which intersects with Grand Concourse and offers easy access to the Bronx River Parkway. The site is also within walking distance of the B and D subway lines and the Botanical Gardens Metro North train line. Environmental reports, the property survey and blueprints of 3041 Webster Avenue are all available upon request. The JLL Capital Markets professionals handling the sale and marketing of 3041 Webster Avenue include Managing Director Karl Brumback and Associates Brian Streilein and Eric Teifen.

SALES

RON SOLARZ

Newmark Knight Frank arranged the sale of 1064-1066 Jackson Avenue, a development site with 25,236 buildable square feet in Long Island City. Executive Managing Director Ron Solarz and Associate Jonny Yuran represented the property’s owner and procured the buyer – a local condo developer – in the $8 million sale. 1064-1066 Jackson Avenue is a vacant corner site in the Court Square section of Long Island City, near LIRR stations and atop the MTA’s 7 subway line. The property’s sale included MTA-approval, as well as approved plans for a seven-story condo project with ground-floor retail.

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SVN Commercial Realty announced the sale of Erie Station Self-Storage located in West Henrietta, NY, a suburb of Rochester, NY for $6,200,000. The facility is 57,300 gross square feet and 46,850 net rentable square feet with 225 climate controlled units in a three-story big box building and 233 standard drive-up units. In addition, the seller delivered a building permit for a 7,600 s/f single-story expansion building. The facility was developed by a local development company and purchased by a private REIT based out of NYC, who already owned one facility in the market. The facility will be re-branded to Global Self-Storage. Hans Hardisty, CCIM and Nick Malagisi, SIOR, of the national SVN Self-Storage team ,were the procuring and selling brokers. The property was managed by Storage Investment Management Inc. (SIMI) a national third-party self-storage management company.

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DOMINIC FITTIZZI

NAI James E. Hanson negotiated the sale of a 0.6-acre lot located at 121 Rochelle Avenue in Rochelle Park, N.J. Dominic Fittizzi represented the buyer, Bergen Landscaping, and the seller, Roy F. McGeady, in the transaction. Measuring 80 by 400 ft. in size, 121 Rochelle Avenue is a 0.6-acre lot featuring a prime location on a main road in central Bergen County. Zoned for a range of uses including office, residential and retail, the property offers convenient access to Routes 80, 17 and 46. The surrounding area boasts strong demographics, with a population of over 630,000 within a five-mile radius and a median household income of nearly $75,000. The buyer plans to use the property as a landscape contractors’ yard that will feature retail hardscapes. With the purchase of 121 Rochelle Avenue, Bergen Landscaping will bring its footprint in Rochelle Park to two acres.

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NAI Mertz announced that Jonathan Klear, senior vice president, brokered the $1.45 million sale of 6805 Delilah Road in Egg Harbor Township, New Jersey. Klear represented the seller, FDI Trading. Roy Kardon of NAI Mertz represented the buyer. The new owner plans to remodel, overhaul and improve the space for their use. 6805 Delilah Road is a 33,400 s/f industrial building comprising 30,000 s/f of warehouse space and 3,400 s/f of office space. Situated on a 4.5-acre lot, it has six tailgate loading docks.

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