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Brokerage
Posted: October 25, 2022
Squires, Neustadter and Weiner of C&W broker $5.5 million sale
New York, NY Cushman & Wakefield arranged the sale of an 11,104 s/f motel located at 1440 East 222nd St. in the Bronx. The final sale price was $5.5 million.
Cushman & Wakefield’s Jonathan Squires, Josh Neustadter and Austin Weiner represented the seller, Bay Chester Motel, Inc., in the transaction. The property was acquired by Bay Plaza 1440 LLC.
“This offering was a rare opportunity to purchase a value-add motel in the North Bronx right off I-95 and steps to various forms of public transportation,” said Squires. “This sale is part of the continuous redevelopment of the Bronx as both a place to live and a destination.”
1440 East 222nd St. is an 11,104 s/f motel on a block-through, 15,943 s/f M1-1 zoned lot. The motel features 25 units, an accessory office and 35 parking spaces. The property will be delivered vacant.
Located in the Baychester neighborhood, the property is accessible via the Baychester Ave. subway station serviced by the 5 train. The property is surrounded by an array of retail, dining and entertainment options.
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