Presentation title - Agorafy
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE BUILDING FEATURES
Asking Price: $18,250,000 $16,995,000 NNN Lease: $1,500,000
TOTAL SQUARE FEET
52, 045 (approx.)
FRONTAGE
26’ along Third Avenue
BLOCK / LOT
2362 / 21
BUILDING DIMENSIONS
26’ x 187’
LOT DIMENSIONS
26.3’ x 187.55’ (Irreg.)
STORIES
Six (6) Plus Basement
LOT AREA
7,435 (approx.)
ZONING
C4-4
ASSESSMENT (14/15)
$2,000,898
TAXES (14/15)
$117,588
Property Highlights Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 2922 Third Avenue, situated on the corner of Third Avenue and E. 152nd Street in the heart of The Hub section of the Bronx. This prime corner block-through property is being offered for the first time in over 15 years. This unique 6-story plus basement, approximately 52,045 Sq. Ft. retail building will be delivered vacant. Being taller than its neighbors it benefits from tremendous visibility. The building is meticulously maintained and features two elevators (one passenger and one freight), sprawling floor plates and tremendous ceiling heights. The ground floor offers approximately 7,500 sq. ft. of shopping space with wide staircase and elevator access to the selling basement and second floor. Already the premier shopping destination of the South Bronx, featuring many national retailers, “The Hub” is experiencing a development
renaissance. Located in an Empowerment Zone, with sales in comparison to the retail centers of Fordham Road and Bay Plaza, new large-scale developments dot the area. These include the Opera House Hotel, Triangle Plaza, Via Verde and the upcoming La Central. Combined, these projects will add approx. 1,000 residential units and thousands of sq. ft. of prime retail space directly across the street from the subject property. The Hub also benefits from an excellent transportation network with stops for the No. 2 and 5 subway trains at the upgraded 149th Street and Third Avenue station, five bus lines to Manhattan and access to Metro-North, which stops at the Melrose Avenue station now accommodating 25 stops per day. The subject property represents an excellent opportunity for the User or Investor to become a player in one of the Tri-State region’s most up-and-coming neighborhoods.
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE
Recent Development In The Hub
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE
Projected Rent Roll and Expenses:
Floor / Tenant
Approx. Sq. Ft.
Projected $ / SF
Projected Monthly Rent
Selling Basement
7,435
$25
$15,490
Ground Floor
7,435
$55
$34,077
2nd – 6th Floor
37,175
$25
$77,448
Projected Gross Annual Income:
$1,524,180
Vacancy Allowance 5%:
$76,209
Effective Gross Income:
$1,447,971
Projected Expenses: Real Estate Taxes
Actual
$130,196
Water / Sewer
Tenant Pays
-
Insurance
$.75 Per SF
$39,034
Fuel
Tenant Pays
-
Electric
Tenant Pays
-
Repairs and Maintenance
Tenant Pays
-
Projected Annual Expenses:
$169,230
Effective Gross Income:
$1,447,971
Less Expenses:
$169,230
Projected Net Operating Income:
$1,278,741
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
Asking Price: $18,250,000 $16,995,000 NNN Lease: $1,500,000
TOTAL SQUARE FEET
52, 045 (approx.)
FRONTAGE
26’ along Third Avenue
BLOCK / LOT
2362 / 21
BUILDING DIMENSIONS
26’ x 187’
LOT DIMENSIONS
26.3’ x 187.55’ (Irreg.)
STORIES
Six (6) Plus Basement
LOT AREA
7,435 (approx.)
ZONING
C4-4
ASSESSMENT (14/15)
$2,000,898
TAXES (14/15)
$117,588
Property Highlights Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 2922 Third Avenue, situated on the corner of Third Avenue and E. 152nd Street in the heart of The Hub section of the Bronx. This prime corner block-through property is being offered for the first time in over 15 years. This unique 6-story plus basement, approximately 52,045 Sq. Ft. retail building will be delivered vacant. Being taller than its neighbors it benefits from tremendous visibility. The building is meticulously maintained and features two elevators (one passenger and one freight), sprawling floor plates and tremendous ceiling heights. The ground floor offers approximately 7,500 sq. ft. of shopping space with wide staircase and elevator access to the selling basement and second floor. Already the premier shopping destination of the South Bronx, featuring many national retailers, “The Hub” is experiencing a development
renaissance. Located in an Empowerment Zone, with sales in comparison to the retail centers of Fordham Road and Bay Plaza, new large-scale developments dot the area. These include the Opera House Hotel, Triangle Plaza, Via Verde and the upcoming La Central. Combined, these projects will add approx. 1,000 residential units and thousands of sq. ft. of prime retail space directly across the street from the subject property. The Hub also benefits from an excellent transportation network with stops for the No. 2 and 5 subway trains at the upgraded 149th Street and Third Avenue station, five bus lines to Manhattan and access to Metro-North, which stops at the Melrose Avenue station now accommodating 25 stops per day. The subject property represents an excellent opportunity for the User or Investor to become a player in one of the Tri-State region’s most up-and-coming neighborhoods.
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE
Recent Development In The Hub
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
2922 Third Avenue BRONX, NY 10455 Prime Bronx Retail Building For Sale or NNN Lease 52,045 Sq. Ft. of Retail Available FOR SALE
Projected Rent Roll and Expenses:
Floor / Tenant
Approx. Sq. Ft.
Projected $ / SF
Projected Monthly Rent
Selling Basement
7,435
$25
$15,490
Ground Floor
7,435
$55
$34,077
2nd – 6th Floor
37,175
$25
$77,448
Projected Gross Annual Income:
$1,524,180
Vacancy Allowance 5%:
$76,209
Effective Gross Income:
$1,447,971
Projected Expenses: Real Estate Taxes
Actual
$130,196
Water / Sewer
Tenant Pays
-
Insurance
$.75 Per SF
$39,034
Fuel
Tenant Pays
-
Electric
Tenant Pays
-
Repairs and Maintenance
Tenant Pays
-
Projected Annual Expenses:
$169,230
Effective Gross Income:
$1,447,971
Less Expenses:
$169,230
Projected Net Operating Income:
$1,278,741
For More Information, Please Contact: Nick Burns Director (212) 660-7756 [email protected]
David Simone Direct (212) 660-7725 [email protected]
Michael Fioravanti Associate (212) 589-5119 [email protected]
Cushman & Wakefield 275 Madison Avenue New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. of theorproperty (or properties) in question.
