March 26, 2015

Ashkenazy Buys Bronx Commercial Site for $5.1M


Ashkenazy Acquisition has purchased a commercial building in the Throgs Neck section of the Bronx for $5.1 million, Commercial Observer has learned.

The site at 3860 East Tremont Avenue, on the northwest corner of East Tremont Avenue and the Cross Bronx Service Road North, includes a one-story, 15,000 square-foot vacant building with 23,618 square feet of air rights, 40 parking spaces and a tower for an advertising sign.

Daniel Levy, a partner at Ashkenazy, noted that the site would be ideal for a single or multi-tenant commercial use.

Ariel Property Advisors‘ Jason M. Gold , Victor Sozio and Scot Hirschfield represented the seller, a private investor who has the property since 2006, as well as Ashkenazy. At the time of the sale, Marcus & Millichap‘s Scott Plasky had the exclusive listing.

“This is a rare asset with drive-through accessibility from East Tremont Avenue to the Cross Bronx Expressway, and would be an ideal location for a national retailer seeking a presence on a major corridor in the Bronx,” Mr. Gold said in prepared remarks. “The property’s zoning allows the buyer the flexibility of building another story on top of the existing structure.”

Ashkenazy will be handling the leasing of the property.