Stagg Group pays $10.8M for two Bronx development sites

Mark Stagg’s Stagg Group paid a combined $10.8 million for two Bronx development sites in two separate transactions with different sellers.

In the first, the Stagg Group through the entity 5278 Post Road LLC paid Stilianos Varkaris (and others including Petra Broadway LLC) $7.9 million for 5278 Post Road and an adjacent parcel on Broadway, in Riverdale. The deal closed on July 1, 2020, and was recorded on July 9, 2020. The transaction consists of 2 parcels, including the tax class land zoned residential, except not Manhattan below 110th Street (V0). The contract date was May 18, 2020.
Stagg Group, on June 19, filed a permit application for construction of a 102-unit, 109,270-square-foot residential building at 5278 Post Road in Riverdale

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $499,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second, the Stagg Group through the entity 915 Elsmere Place Bronx Associates LLC paid Alma Realty’s Crotona Park Redevelopment LLC $2.9 million for 915 Elsmere Place in Tremont. The deal closed on June 11, 2020, and was recorded on July 9, 2020. The transaction consists of 1 parcel, including the tax class land zoned residential, except not Manhattan below 110th Street (V0).

The contract date was December 15, 2019. The last time the property sold was July 11, 2006, for $3,867,548.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 49,075 square feet. Those plans include a total of 72 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link