Mixed-Use Building Between BankNote Building and Hunts Point Produce Market
Al Barbarino Jan. 15, 2013, 7:30 a.m.
A 15,000-square-foot mixed-use building at 647 Bryant Avenue in the Bronx – located roughly half a mile from The BankNote building in one direction and the same distance from the Hunts Point Terminal Market in the other direction – is on the market for $1.5 million.
The property features an 8,500-square-foot ground floor commercial space with 75 feet of frontage, currently occupied by job placement and training non-profit FEDCAP, and a second floor featuring three market rate apartments that could be converted to office or additional commercial space.
“This is part of our investment strategy to sell our residential properties and focus on office and retail in Manhattan,” said David Zar, head of leasing and acquisitions at Zar Property NY. “It’s ideal for a tenant that needs ground floor office space and wants good visibility.”
“It can be delivered vacant and ideal for a tenant to complement the new lease with HRA or the Food Market,” he added, referring to the neighborhood staples within close proximity to the property.
New York City’s Human Resources Administration (HRA) just signed a 20-year lease for approximately 200,000 square feet at The BankNote, a landmarked, 400,000-square-foot Class A office and retail complex at 890 Garrison Avenue that’s quickly becoming a hub for creative companies, non-profits, community organizations and schools.
Urban Health Plan, a Bronx-based, not-for-profit healthcare provider, also signed a 10-year lease for 20,000 square feet there for its executive offices.
The Hunts Point Terminal Market at 101 Food Center Drive is the largest wholesale produce market in the world, sprawled across 113 acres, with one million square feet of interior space, and receives fresh produce daily from 49 states and 55 countries.
Denham Wolf Real Estate Services – the same broker as representing the owner at The BankNote – is handling the marketing at 647 Bryant Avenue. The firm was not available for immediate comment.