Bronx, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, has been exclusively retained to sell a 30,800 s/f vacant warehouse, located in the Hunts Point neighborhood. Meridian senior executive managing director, David Schechtman, managing director, Lipa Lieberman, and directors, Abie Kassin and Harrison Hochman, are marketing the asset.
1171 Oak Point Ave., is a single-story, 30,800 s/f warehouse with an office mezzanine space, situated on a 30,000 s/f lot. The property features 29,200 s/f of air rights and contains two refrigerator and two freezer units. Located on the northwest corner of Oak Point Ave. and Worthen St., the property offers excellent visibility in one of the most integral food distribution centers in the region and is situated adjacent to the Hunts Point Cooperative Market, the largest whole sale produce market in the world. The warehouse is fully occupied by single-tenant Miron Produce, serving as one of their warehouses and distribution centers and is now surplus corporate real estate relative to Miron’s other state-of-the-art facilities.
“What makes this value-add property unique is that an investor will have the ability to reposition the asset and take advantage of the substantial development rights,” said Schechtman. “Located in the Special Hunts Point District, a prime area for wholesalers, distributors, and food processing businesses, the soon-to-be vacant warehouse can be expanded to 60,000 s/f, offering an exceptional opportunity for investors seeking presence in the Hunts Point neighborhood.”