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Brokerage
Posted: July 11, 2023
Vargas of Gilco Realty negotiates two laundromat leases
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.
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