Invictus Property Advisors sells $9.9 million Morris Park retail asset at 1800 Williamsbridge Rd.

Bronx, NY Invictus Property Advisors, co-founded by Josh Lipton and Andrew Levine, sold a 35,000 s/f corner retail property at 1800 Williamsbridge Rd. in the Morris Park section of the city for $9.9 million, reflecting a 6.5% capitalization rate. The fully occupied asset is leased on an absolute triple-net basis to Citibank and Dollar Tree (subleasing from Walgreens), providing long-term, stable cash flow with rents at or near market levels. Additionally, it includes 44 on-site parking spaces. The property is located less than half a mile from the approved Morris Park Metro-North Station and occupies a prominent corner position serving the surrounding residential neighborhood.

 

 

Furthermore, under the City of Yes zoning reform, 1800 Williamsbridge Rd. qualifies as a “Qualifying Residential Site,” allowing up to 87,500 buildable s/f (2.5 FAR), presenting potential long-term redevelopment upside.

“This sale reflects continued investor demand for well-located, credit-backed retail assets in transit-oriented neighborhoods. The City-of-Yes rezoning made this investment much more attractive, and groups viewed this as a covered land play,” said Levine.

Invictus Property Advisors represented both the buyer and the seller.

Invictus Property Advisors is a New York City-based investment sales firm specializing in multifamily, retail, and development opportunities throughout the five boroughs.