Turnbridge Equities signs contract to buy Bronx industrial property adjacent to recent $57M purchase

Turnbridge Equities through the entity 920 East 149 Property LLC signed a memorandum of contract with the Friedland family’s Westrock Development through the entity SHLP 149 LLC for 1 parcel, including the tax class miscellaneous warehouse (E9) at 920 East 149th Street in Mott Haven. The memorandum was signed on November 4, 2019 and was recorded on November 8, 2019.
The property contains a total of 42,828 square feet of built space. The property has 131,310 square feet of available development rights.
Turnbridge paid $57.05 million to James Granito’s Con Agg Recycling Real Estate for a larger adjacent site in December 2018 which can allow for 890,000 square feet of warehouse development. The last time the property under contract sold was June 8, 2015, for $8,500,000.

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 were 2 renovation/alteration projects (A2) applied for with a total estimated value of $614,386.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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