News:
Brokerage
Posted: May 19, 2020
Cushman & Wakefield arranges $3.25 million sale of Bronx warehouse
Bronx, NY Cushman & Wakefield arranged the sale of 1476 East 222nd St., a 17,195 s/f industrial warehouse in the Baychester neighborhood. The final sale price was $3.25 million.
A Cushman & Wakefield team of Jonathan Squires, Addison Berniker, Michael Fioravanti and Josh Neustadter represented the seller in the transaction.
1476 East 222nd St. is a single-story warehouse located in an Opportunity Zone on the southwest corner of 222nd St. and Edson Ave. The property boasts 21’ ceilings, four drive-in garages and one loading dock. Additionally, there is a mezzanine level with a separate entrance that provides office space above the warehouse. The property was owner-occupied and delivered vacant.
The property is M1-1 zoned and located near I-95, US-1 and the Hutchinson River Parkway. The 5 train is easily accessible via the Baychester Subway Station, located within walking distance to the property.
“This industrial warehouse is located within an Opportunity Zone and offers quick access to New York City and the Northeast Corridor,” said Berniker.
“Prior to closing in May, the buyer was able to find a logistics tenant, demonstrating the true demand for warehouse space right now,” said Squires.
Tags:
Brokerage
MORE FROM Brokerage
Brennan Investment Group closes strategic 22-building industrial portfolio
Moorestown, NJ Brennan Investment Group (Brennan) completed the recapitalization of two portfolios containing 22 buildings and totaling 1,176,122 s/f in Moorestown, and Nashville. Notably, the transaction marks Brennan’s third
Quick Hits
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
.gif)
August Promotion
