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NEW YORK CITY- Bolivar Development has acquired 3041 Webster Ave. in the Bronx, an 85,000-buildable-square-foot development opportunity, from Sam's Carpet for $6.4 million. Jones Lang LaSalle arranged the transaction.
"This was an incredible opportunity for Bolivar Development to acquire a significant development opportunity in the vibrant Bronx neighborhood of Norwood," JLL's Managing Director Karl Brumback said in a prepared statement. "3041 Webster Ave. is the ideal location for a mixed-use project with excellent public transportation options and easy access to some of New York's most beautiful green spaces."
The former home of carpet retail company Sam's Carpet, 3041 Webster Ave. includes an existing two-story, 15,140-square-foot commercial, fireproof warehouse, and offers 126 feet of prime frontage along bustling Webster Avenue.
The property supports a residential zoning floor area of 63,588 square feet or an inclusionary housing zoning floor area of 84,784 square feet. And due to the site's inclusionary housing zone status, it benefits from R7D/C2-4 zoning.
Located on the westside of Webster Avenue just north of the Mosholu Parkway, the property is easily accessible to the Bronx River Parkway and within walking distance to the B and D subway lines as well as the Botanical Gardens Metro North train station. Steps away is the New York Botanical Garden and the nearby Bronx Zoo, Fordham University and the Bronx's Little Italy.
The JLL capital markets professionals that represented Sam's Carpet include JLL directors Eric Tiefen and Brian Streilein.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
