Ariel Property Advisors has been retained to sell two contiguous properties in the Port Morris section of the South Bronx for $16.25 million. The block-through properties at 805 East 139th Street and 820 East 140th Street total 77,000 square feet and offer 255 feet of frontage on 139th Street and 150 feet of frontage on 140th Street. The properties present a strategic opportunity for both owner-users and investors to capitalize on the high demand of industrial and warehouse space in the New York metropolitan market. Ariel’s team of Jason M. Gold, Vice President, Investment Sales, Michael A. Tortorici, Executive Vice President, Investment Sales, Victor Sozio, Executive Vice President, Investment Sales, and Daniel Mahfar, Director, Investment Sales, is representing the seller.
The properties present significant tax savings being situated in both an Opportunity Zone and an Industrial Business Zone. Additionally, the space is zoned M3-1, a unique designation that allows for heavy manufacturing.
The properties feature two freight elevators, four loading docks, seven driveways and substantial ceiling heights, including 20 feet on the 45,000-square-foot ground floor and 16 to 18 feet on the second and third floors. Additionally, the properties provide a full sprinkler system and ample indoor space with 20 to 24 feet between columns.The buildings are also conveniently located near public transportation (the 6 train and Bx33 bus) and major roadways including the Bruckner Expressway (Route 278) and RFK Bridge, allowing easy access to the other Boroughs, Westchester, Long Island and New Jersey.
“The industrial warehouse and storage market are at a ten-year high in dollar and transaction volume in the Bronx,” said Gold. “The borough offers accessibility in a competitive geography, and this asset is both a strategic investment and business empowerment solution in a prime location.”
The properties are in close proximity to other large-scale projects, such as Union Crossing, a mixed-use building offering more than 275,000 buildable square feet of office and studio space with retail on the ground floor. Additionally, the properties will be near approximately 3,000,000 square feet of residential units coming in the next few years, along with major brands such as Amazon, Fresh Direct, FedEx, New York Post, Maison Kayser, Silvercup Studios and many others.
You can find more information and broker contact details here: http://arielpa.nyc/listing/805-east- 139th-street-and-820-east-140th-street.
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc
