Lightstone is gobbling up more of the Bronx waterfront along the Harlem River between East 138th and East 145th streets, where it will soon be able to develop 2 million square feet around an upcoming city park.
The new contract is for a warehouse and land at 325 Exterior St. The sellers, ABS Partners, have owned it since 1998. It is now rented to Verizon, which has a five-year option that would enable Lightstone to phase in its development and have a bit of income.
Pricing was not available. The ABS property is adjacent to 355 Exterior St. and 399 Exterior St., which Lightstone bought for $59 million, or about $125 per square foot.
The latter site adjoins a large upcoming city park. Lightstone also controls the land on the other side of the park through a 99-year lease.
Lightstone and ABS did not return requests for comment.
