Heatherwood Communities Acquires Mott Haven Warehouse and Development Site for $16.8 Million
Heatherwood Communities purchases a warehouse and development site in Mott Haven, Bronx for $16.8 million.
Heatherwood Communities has acquired a warehouse and development site located at 288 Walton Ave in Mott Haven, Bronx for $16.8 million. The property was sold by Abraham Fruchthandler of FBE Limited. The deal was brokered by Nir Mor and Daniel Rahmani of Capital Property Partners.
The property spans 170,000+/- square feet and has 31,760 BSF. The site is currently zoned for manufacturing and is located in an Opportunity Zone, which provides tax incentives for investors. The property is also located near several major highways, including the Bruckner Expressway and the Major Deegan Expressway, making it easily accessible.
Heatherwood Communities is a real estate development and management company based in New York. The company has a portfolio of over 50 properties, including residential, commercial, and mixed-use developments. The acquisition of the Mott Haven property is in line with the company’s strategy of investing in emerging neighborhoods in the New York City area.
Abraham Fruchthandler is a real estate investor and developer based in New York. FBE Limited is a real estate investment firm that specializes in the acquisition and development of commercial and residential properties in the New York City area.
Nir Mor and Daniel Rahmani are brokers at Capital Property Partners, a real estate brokerage firm based in New York. The firm specializes in commercial real estate transactions, including sales, leasing, and financing. Mor and Rahmani have a track record of successfully brokering deals in the New York City area, including several high-profile transactions in the commercial real estate sector.
The acquisition of the Mott Haven property by Heatherwood Communities is a significant investment in an emerging neighborhood in the Bronx. The property’s location near major highways and its zoning for manufacturing make it an attractive investment opportunity. The property’s inclusion in an Opportunity Zone also provides tax incentives for investors, making it an even more attractive investment opportunity. The deal was brokered by Nir Mor and Daniel Rahmani of Capital Property Partners, who have a track record of successfully brokering deals in the New York City area.