Peter Fine pays $13.9M to Richard Pogostin for industrial in Highbridge

Peter Fine, founder of Atlantic Development Group, through the entity 1941-1959 Jerome Avenue LLC paid $13.9 million to Richard Pogostin through the entity Tremont Garage Realty Corp for an industrial (G1) building at 1949-1961 Jerome Avenue in Highbridge, Bronx.

The deal closed on April 20, 2021 and was recorded on May 10, 2021.

The property has 37,000 square feet of built space and 76,628 square feet of additional air rights for a total buildable of 113,621 square feet according to PincusCo analysis of city data. The sale price per built square foot is $376 and the price per buildable square foot is $122 per the PincusCo analysis.

The signatory for Richard Pogostin was Richard Pogostin. The signatory for Atlantic Development Group was Peter Fine.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those, there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $484,750. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $232,100. (240286089) One of the projects was to change the building from a COM to a F-2 and change the number of residential units from 0 to 0.

Direct link to Acris document. link