Cushman & Wakefield arranges $4.75 million sale of development site–Shapiro, Squires and Berniker act for seller

Bronx, NY Cushman & Wakefield arranged the sale of 6375 Broadway, a 55,142 buildable s/f development site in the Riverdale neighborhood. The sale price was $4.75 million.

A Cushman & Wakefield team of Robert Shapiro, Jonathan Squires and Addison Berniker represented the seller in the transaction. Local 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 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,” said 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.

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