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100,000 SF in New Leases for Former Bronx Alexander's

NEW YORK CITY-Vornado sold the property to a locally based JV last year for $25 million. A major renovation is ongoing and a slew of new tenants are in various stages of occupancy.

By Glen Thompson | Updated on March 19, 2002

NEW YORK CITY-A former Alexander’s department store building in the Bronx, currently under redevelopment as a mixed-use property, has new leases in place totaling more than 100,000 sf.

Vornado sold the 300,000-sf property last year to a joint venture between Houlihan Parnes/iCAP Realty Advisors and the Jack Jemal family in a $25-million deal. Located on the northwest corner of Fordham Road and the Grand Concourse, the 2 Fordham Square Building has a 35,000-sf selling basement and five floors above ground.

On Friday, Bally’s Fitness signed a 10-year lease “in the high $20s” for the entire below-grade space where it will open a health club, according to Fordham Associates LLC principal Jim Houlihan. Other new leases include a 52,000-sf deal with a newly formed JV between City University of New York and Local 1199, the Health and Hospital Workers Union. The 15-year lease is also in the upper $20s, Houlihan tells GlobeSt.com. The space should be ready for occupancy in 60 to 90 days.

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