Cushman & Wakefield announced today that the real estate services firm has arranged for 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. Long-time Bronx developer Stagg Group purchased the site and plans to build 77 new units.
“It was a pleasure working with a creative and sophisticated seller who provided a developable lot from what was once just a yard,” said Robert 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 Jonathan Squires.
The site was recently divided from the Riverdale Home for Adults. Located on the Broadway Corridor, the site boasts easy access to a multitude of amenities and is across the street from Van Cortlandt Park. 6375 Broadway also offers direct access to the Henry Hudson Parkway and multiple bus lines canvass the area.
Picture top shows rendering on an apartment development via Richard Bienenfeld Architects, P.C