Chelsea Market and Industry City Owner Expands Into the Bronx

Jamestown enters the Bronx market, purchasing 260 East 161st St.

NEW YORK—The investment and management firm, Jamestown L.P., owner of Chelsea Market in Manhattan and Industry City in Brooklyn, purchased a 276,622 square foot building in the Bronx, for approximately $115 million.

Located at 260 East 161st St., the 10-story structure originally constructed in 1930 offers 245,470 square feet of office space and 20,572 square feet of retail space. According to Real Capital Analytics, the seller Acadia Realty Trust purchased the building in August 2005 for $49 million.

Renovated in 2016, the building includes office tenants, the City of New York, the Legal Aid Society, and Montefiore Medical Center, and retail tenants, Walgreens, Starbucks and Chipotle Mexican Grill. It is located in the heavily trafficked East 161st office and retail corridor in Concourse Village. The property is also close to city government buildings, borough courthouses and Yankee Stadium.

Holliday Fenoglio Fowler represented the seller and procured the buyer. HFF is also working on behalf of Jamestown to arrange financing for the asset.