NEW YORK CITY—A retail site that has sold in the Bronx features major potential for expansion and brand marketing opportunities. Ashkenazy Acquisition Corp. has purchased 3860 E.Tremont Ave., in the Throgs Neck area, from a private investor.
The site features a 15,000-square-foot, one-story, vacant building that was previously occupied by a Mandee store; significant air rights totaling 23,618 square feet; 38,618 buildable square feet, 40 on-site parking spaces and an advertising tower. The property sold for $5.1 million.
Ariel Property Advisors agents Jason Gold, Victor Sozio, and Scot Hirschfield represented the seller and procured the buyer. The property is located on the northwest corner of East Tremont avenue and the Cross Bronx Service Road North.
“This is a rare asset with drive-through accessibility from East Tremont Avenue to the Cross Bronx Expressway, and would be an ideal location for a national retailer seeking a presence on a major corridor in the Bronx,” says Gold, Ariel VP. “The property's zoning allows the buyer the flexibility of building another story on top of the existing structure.”
The site lends itself to either a single or multi-tenant commercial use, adds Daniel Levy, partner at Ashkenazy. “The property has great exposure in a unique area of the Bronx and we're very excited about the acquisition. Ashkenazy's leasing division will be handling leasing for the property.”
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
