445 and 414 Gerard Ave. in the Bronx/ Image provided by Domain Companies 445 and 414 Gerard Ave. in the Bronx/ Image provided by Domain Companies

NEW YORK CITY—The Domain Companies has purchased two sites totaling 44,500 square feet at 445 Gerard Ave. and 414 Gerard Ave. in the Mott Haven neighborhood of the Bronx. The seller was Treetop Development and the purchase price was $38.5 million.

Encompassing four lots in a southwestern area of the Bronx, the sites will allow for the development of an approximately 428,906-square-foot, mixed-income, mixed-use residential property. As Domain specializes in development of mixed-use properties and sustainable design in core urban locations, the acquisition is a continuation of their efforts to expand in the New York market.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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