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O-Zone Site Sells in Bronx’s Belmont Neighborhood
Cushman & Wakefield arranged the sale of 773 Grote St., a 23,021-buildable-square-foot development site in the Belmont neighborhood of the Bronx. The final sale price was $1,300,000.
A Cushman & Wakefield team of Jonathan Squires and Josh Neustadter represented the sellers.
“The asset’s strong location, coupled with the fact it’s located in an Opportunity Zone that allows for significant tax benefits, led to a quick and seamless transaction,” said Squires.
“The buyer recognized the value of the Bronx’s residential development market as shown by the purchase of this site in the midst of the pandemic,” added Neustadter.
773 Grote St. is nearby major Bronx institutions, including Fordham University, St. Barnabas Hospital and The Bronx Zoo and Botanical Garden. The property is also within walking distance of the 182nd-183rd Street Subway Station with access to the B and D trains, along with multiple bus routes canvassing the neighborhood.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
