A Cushman & Wakefield team consisting of Jonathan Squires, Michael Fioravanti, Josh Neustader, Addison Berniker and Shayne Soltan will be leading the marketing efforts on behalf of the property’s seller, Empire State Equities.
“This property is unique in that it has a retail strip center and a two-family residential unit located on the same tax lot,” said Jonathan Squires of Cushman & Wakefield. “Our asking price of $2M allows for a 6% return, which is a good return for a mixed-use property on a strong Bronx retail corridor.”
975 East 233rd Street is located between the Bronx River Pkwy, Hutchinson Pkwy and Cross County Pkwy in the Wakefield section of the Bronx. The property recently underwent renovations and the seven store, two apartment property is fully occupied. The corner tenant, Lammy’s was featured and celebrated in Anthony Bourdain’s “Parts Unknown”.
The property is within walking distance to the 233rd Street subway station where you have access to the 2, 5 and Metro North trains. Neighboring retail includes Dunkin’ Donuts, Carvel and Subway.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.