Bronx, NY Greiner Maltz Realty Advisors LLC represented the Tuck-It-Away organization in the disposition of an 88,000 s/f industrial loft building at 845 East 136th St. in the Port Morris neighborhood. The arm’s length transaction equaling $19.15 million, representing $218 per s/f, set a new record for the asset class.
Greiner-Maltz principal broker Ayall Schanzer along with associates Paul Pallett and Scott Benson facilitated the transaction. The pre-WWII era warehouse had been used as a self-storage facility for Tuck-It-Away. Moving forward, the purchaser hopes to multi-tenant the building, as vacancy rates continue to be at an all-time low.
“Our deep market knowledge, breadth and vision gained through our 60+ year track record shaping the NY metropolitan commercial real estate market coupled with our reputation as a trusted advisor has allowed us to deliver our clients with the best possible results,” said Ayall Schanzer, president and CEO at Greiner Maltz. “This transaction demonstrates the power of our brand and its reach.”