Williamsbridge Development Site Sells for $7.5M
JLL and Compass brokers facilitate sale of 3663 White Plains Road
JLL’s Giancarlo Cugini and Karl Brumback, along with Compass’ Nathan Horne, have closed the sale of a development site in the Williamsbridge neighborhood of the Bronx. The property, located at 3663 White Plains Road, sold for $7.5 million.
The site spans 34,053 square feet and has a price per square foot of 220. However, the real value of the property lies in its buildable square footage, which is 90,491. This results in a price per buildable square foot of 83.
The buyer and seller have not been disclosed, but the sale price indicates that the buyer likely has plans for a significant development on the site. The property is located in a mixed-use area, with retail and residential properties nearby. The site is also located near the Williamsbridge Metro-North station, providing easy access to Manhattan.
The sale of this development site is indicative of the continued interest in the Bronx as a development market. The borough has seen significant growth in recent years, with new residential and commercial developments popping up throughout the area. The sale also highlights the importance of brokers in facilitating these deals. JLL and Compass were able to bring together a buyer and seller for a successful transaction, showcasing the value of their expertise and networks in the industry.