Gilco Realty completes multiple sales and leases in the Bronx

Bronx, NY Gilco Realty LLC, a real estate brokerage company specializing in the sale and leasing of commercial and industrial properties in the Bronx, was the sole broker in the following Bronx transactions: • 944 Home St. A/K/A 1171 Southern Blvd. sold for $215,000. Gilco aided in the sale of this commercial development site between seller, JJ Solid Towing Corp. and buyer, Lion State Management LLC. The buyer plans to develop a three-story retail/medical building to serve the local community. Michael Gilbert of Gilco will be in charge of leasing out the spaces. • 3679 E Tremont Ave. Gilco Realty brokered a five-year lease between landlord 3600 Tremont Realty LLC and tenant Harris Hands Community Services Inc. The tenant will occupy 3,500 s/f on the lower level of the building. The tenant is a not for profit specializing in providing community based support services, advocacy and resources to adults and children diagnosed with various intellectual and developmental disabilities. The tenant will be consolidating their operations from multiple locations to this in order to better serve their clients. • 1700 Southern Blvd., Bronx. Gilco Realty brokered a seven-year lease with tenant Southern Blvd Farm Corp. for the space. The tenant will occupy the 1,700 s/f space formerly leased to Tonnie’s Minis. The tenant will operate a produce market, focusing on increasing the availability of fresh and healthy foods to the area. • 458 Southern Blvd. Gilco brokered the $2.25 million sale of this development site to a developer who intends to build a hotel on the site. The property is 16,500 s/f and sold for a new record high price for M1 land in the area. The site is located close to Manhattan, near the subway and across from the new Southern Crossings Housing Development. • 815-821 Burke Ave. sold for $2.485 million. Gilco represented a buyer with a 1031 exchange in locating and buying the property within the limited timeframe. This was an off-market property the Gilco worked on for five years. while the previous owner cleared issues. The property was previously occupied as a church and training school. After the sale Gilco brokered the lease of the church space to Miracle Faith Church of Hope and Deliverance. The space had interest from many churches but Gilco worked with the ownership to investigate the churches to determine the best tenant for the space. The tenant is relocating from a smaller space on White Plains Rd. Gilco also has a listing next to the church, for a built out office space at 815 Burke Ave. The space can be used for retail, office, daycare, school, etc.