NEW YORK CITY — Radson Development has acquired a development site located at a surface parking lot at 2519-2525 Creston Ave. in the Bronx for an undisclosed price. The buyer plans to develop a 12-story affordable housing project on the site. As part of the transaction, Radson Development will return to the seller a condominium interest in a commercial parking garage at the property. The seller originally purchased the lot in the early 2000s as part of its acquisition of 2501 Grand Concourse, the former Alexander’s and Caldor Department stores. The building was successfully converted to a multi-tenanted retail and office building and the lot on Creston Street has become an invaluable asset to the tenants of the building. Bryan Houlihan and James J. Houlihan of Houlihan-Parnes Realtors brokered the transaction. The name of the seller was not released.
Located at 2519-2525 Creston St. in the Bronx, the to-be-built 12-story property will feature affordable housing units.
Radson Development Acquires Development Site in the Bronx
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