Long Island-Based Developer Buys Bronx Warehouse in Redevelopment Play

Developer Heatherwood Luxury Rentals purchased a 31,500-square-foot warehouse at 288-310 Walton Ave. in the Bronx from FBE Limited LLC for $16.8 million, or about $533 per square foot.

Although details were not disclosed, the Commack, New York-based company is planning to redevelop the single-story warehouse, originally built in 1931, into a multi-story mixed-use development.

Mark Tergesen of ABS Partners Real Estate brokered the deal on behalf…