Schechtman of EC and Fishbach of RKF sell development site: $17m

A prime development site in the Bronx situated at 80-88 Bruckner Boulevard, has just traded to Atlantic Development Group for $17 million. Eastern Consolidated's David Schechtman, Esq. senior director and Barry Fishbach, executive vice president of Robert K. Futterman & Associates, co-exclusively represented the seller, Borda Products, Inc. led by Cathy Mahon-Borda, and procured the buyer. A full array of uses are permissible on the 58,570 s/f site, now occupied by a one-story 44,310 s/f brick warehouse office building, namely residential, retail, office, industrial and community. "This was a Chapter 11 sale of a Bronx site which has recently been rezoned and it is considered by many to be the premier Bronx development site in the area," said Schechtman who specified that the site occupies the southwestern block front on the corner of Bruckner Blvd., Willis Ave. and East 132nd St. in the Port Morris section of the borough. Jeff Wurst, Esq. Ruskin Moscou Faltischek, P.C. and Marilyn Simon Esq. of Marilyn Simon Associates represented the seller, while Atlantic Development Group was represented by Bob Raicht, Esq., Halperin Battaglia Raicht, LLP. Founded in 1981, Eastern Consolidated has emerged as one of the country's preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers.