2111 White Plains Road Development Site sold 08/13/2024
The property asset involved in this transaction is a development site located at 2111 White Plains Road corner of Maran Place in the Bronx. The sale price was $7,905,000, covering a total square footage of 80,000. The price per square foot and price per buildable square foot both amounted to $98.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,905,000
- Address: 2111 White Plains Road
- Market: Bronx
- Total Square Footage: 80,000
- Price per Square Foot: $98
- Price per Buildable Square Foot: $98
- Buyer: Robert Lumaj
- Seller: Jonathan Sopher
- Brokers: Alexandre Goulet, Magdalena Denisiuk & Anand Melwani - Landair Property Advisors
The deal was represented by Alexandre Goulet, Magdalena Denisiuk, and Anand Melwani, who are associated with Landair Property Advisors. This team facilitated the transaction between Robert Lumaj and Jonathan Sopher, marking a significant deal for both parties involved.
While the site on White Plains Road is zoned Commercial C4-4 that is an equivilent to a Residential R-7A zone. It is possible that a building could go as high as to 85 feet or eight stories, but it could go as high as 95 feet or nine stories if certain inclusionary items are met. However if the City of YES Housing Opportunity is passed by the city council there could be an additional 20 percent bump up of additional height which could add nineteen feet or two more stories up to eleven stories.
The height information comes from the city of New York City Department of City Planning Zoning Districts.
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