90K-Square-Foot Bronx Property Trades for $9M
A 90,000-square-foot property at 1351 and 1339 Jerome Avenue connected to 1320 and 1342 Inwood Avenue has sold for $9 million to Jerome Avenue Storage Associates LLC, operating under American Self-Storage.
American Self-Storage is one of two current tenants at the property; it has held a lease with the option to buy since 2011. There is also a 12,000-square-foot Antillana Supermarket at the property.
“American Self-Storage has been operating out of the space for the past four years and benefited tremendously from its central location between the Westchester suburbs and New York City,” said Kalmon Dolgin Affiliates’ Grant Dolgin, who along with Dmitri Gourianov represented both the buyer and the seller in the deal. “The ownership acted on its option to buy, deciding to make a long-term commitment to the neighborhood and property that has served the company so well.”
The deal was finalized on May 6.
The seller, Boss Realty, LLC/Plaza Packaging, occupied the space for 50 years prior to 2011. It used the property as a manufacturing warehouse for its packaging products.