RIPCO Real Estate closed the sale of 350 Grand Concourse, a prime development site located in the Mott Haven neighborhood of the Bronx. The buyer, Shorewood Real Estate Group, acquired the site for $28.5 million from Atlantic Development & Investment. RIPCO represented the seller and buyer in this transaction.
350 Grand Concourse spans more than 31,000 square feet and features more than 300 feet of frontage along the Grand Concourse. The RIPCO team included executive managing directors Mitchel Flaherty and Brian Whelan, vice chairman Stephen Preuss and VP of investment sales Kevin Schmitz.
“We are extremely pleased to have played a key role in the sale of 350 Grand Concourse, a truly exceptional development site in one of the Bronx’s most dynamic neighborhoods,” said Flaherty. “Mott Haven’s ongoing transformation into a thriving residential and commercial hub presents an unparalleled opportunity for developers, and this site is perfectly positioned to capitalize on that momentum.”
