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NEW YORK CITY- Bolivar Development has acquired 3041 WebsterAve. in the Bronx, an 85,000-buildable-square-foot developmentopportunity, from Sam's Carpet for $6.4 million. Jones Lang LaSallearranged the transaction.

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"This was an incredible opportunity for Bolivar Development toacquire a significant development opportunity in the vibrant Bronxneighborhood of Norwood," JLL's Managing Director Karl Brumbacksaid in a prepared statement. "3041 Webster Ave. is the ideallocation for a mixed-use project with excellent publictransportation options and easy access to some of New York's mostbeautiful green spaces."

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The former home of carpet retail company Sam's Carpet, 3041Webster Ave. includes an existing two-story, 15,140-square-footcommercial, fireproof warehouse, and offers 126 feet of primefrontage along bustling Webster Avenue.

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The property supports a residential zoning floor area of 63,588square feet or an inclusionary housing zoning floor area of 84,784square feet. And due to the site's inclusionary housing zonestatus, it benefits from R7D/C2-4 zoning.

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Located on the westside of Webster Avenue just north of theMosholu Parkway, the property is easily accessible to the BronxRiver Parkway and within walking distance to the B and D subwaylines as well as the Botanical Gardens Metro North train station.Steps away is the New York Botanical Garden and the nearby BronxZoo, Fordham University and the Bronx's Little Italy.

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The JLL capital markets professionals that represented Sam'sCarpet include JLL directors Eric Tiefen and Brian Streilein.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.