NEW YORK CITY SCHOOL CONSTRUCTION AUTHORITY paid $16M to CAYRE EQUITIES LLC

NEW YORK CITY SCHOOL CONSTRUCTION AUTHORITY paid CAYRE EQUITIES LLC’s CS 169TH STREET LLC $16.3 million for 2 parcels, including the tax class licensed parking lot (G6) at Edward L Grant Hwy, 1297 Cromwell Avenue in Highbridge. The deal closed on June 25, 2019 and was recorded on July 10, 2019. The parcel(s) have total development potential of 323,601 square feet.
The average sale price per buildable square foot is $100.

The last time the property sold was August 26, 2015, for $4,770,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $135,000.There has been one new building permit application totaling 42,263 square feet.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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