By
MIAWLING LAM
 |
| Equity One snapped up this abandoned gas station at West 230th Street and Broadway for $2 million |
The developer of the yet-to-be-built $54 million
Broadway Plaza shopping mall has purchased the adjoining vacant lot—the defunct
Getty gas station.
The Riverdale Review can reveal that Equity One
last month acquired the 7,500-square-foot parcel at 5510 Broadway from a
California-based LLC for a hefty $2 million—more than three times the current
market value of $630,000.
Documents filed with the New York City
Department of Finance show the property deed for the commercial site was
transferred on October 15.
Equity One currently owns the 80,000-square-foot
parcel on the eastern boundary of the gas station. The site, now a city-owned
parking lot, will be developed into a two-story multi-tenant shopping mall set
to open in mid-2014.
The newest acquisition means the national
developer now commands two of the three coveted parcels of developable land
along the busy intersection of West 230th Street and Broadway—a clear
indication that the area is viewed as a worthy spot for major commercial
development.
