Nadeem Haque, Friedman-Roth Realty Services
The property, consisting of 117,000 buildable s/f, is located across from the Kingsbridge Armory. The development was a vacant parcel in foreclosure/bankruptcy.
The buyer, B&B Supportive, LLC is a residential developer who specializes in affordable housing throughout the greater New York Area.
Nadeem Haque, partner at Friedman-Roth Realty Services, represented the buyer.
Haque said, "This sale represents the continuing development of the Bronx and Kingsbridge section of New York City. The property, located near the newly leased Kingsbridge Armory, is an ideal location for sustainable development in the area."
Phil Ragone, of Brick Realty Capital, said, "Along with the Kingsbridge Armory redevelopment, I believe this is a new way forward for the Kingsbridge Section of the Bronx and a promising development for the community."
The closing price for this transaction was $5.75 million. Haque and Ragone represented the buyer and seller.
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