Vargas of Gilco Realty negotiates two laundromat leases

July 11, 2023 - Brokerage

Bronx, NY Gilco Realty LLC negotiated two leases with laundromats. Gilco Realty was the sole broker and Epifanio Vargas was the sole salesperson involved in both transactions.

• 2883 Miles Ave. - Epifanio brokered a 25-year lease between 2883 Miles Corp. (landlord) and Miles Laundry Mart (tenant). The building was formerly occupied by a fence installation company. The tenant will be taking ½ of the building leaving the remainder available for lease. The tenant is expected to spend over $1 million to build one of the largest laundromats in this section of the city.

• 5700 Mosholu Ave. - Epifanio brokered a 20-year lease with Miles Laundry Mart (tenant) and GVC LLC. The tenant will occupy the 2,750 s/f space formerly occupied as pharmacy. This is a corner location and brings the property to full occupancy. The tenant is expecting to spend $700,000 on the buildout.