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Former Stella D’Oro Factory Trades for $19M in the Bronx

NEW YORK CITY-The building sale, arranged by Massey Knakal, was acquired by a joint venture of Metropolitan Realty Associates and Angelo, Gordon & Co., LP.

By Jacqueline Hlavenka | Updated on August 16, 2011

(Mark Your Calendars: RealShare Distressed Assets takes place Oct. 4-5 in Grapevine, TX. RealShare New York takes place Oct. 12 at the Marriott Marquis.)

NEW YORK CITY-The factory once known for its sweet Italian cookies, breakfast treats and breadsticks will soon be redeveloped into a mixed-use retail center. Massey Knakal Realty Services sold the Stella D’Oro bakery site at 184-190 West 237th St. in the Riverdale section of the Bronx to Jericho, NY-based Metropolitan Realty Associates and its long-time equity partner Angelo, Gordon & Co. LP for $18,750,000 in an all-cash transaction. The joint venture plans to redevelop the facility into Riverdale Crossing, a new shopping destination for residents of the North Bronx and Upper Manhattan.

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