A Cushman & Wakefield team of Jonathan Squires, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan will lead all marketing efforts on behalf of the property’s seller.
“This property’s industrial zoning and central location within an Opportunity Zone presents a unique circumstance for an end-user,” said Squires. “The well-located, easily-accessible space provides additional tax benefits and is perfect for an investor looking to capitalize on the strength of Hunts Point.”
1318 Oak Point Avenue is a corner building located within a qualified Opportunity Zone in the Bronx. The building is currently vacant and has recently undergone major improvements. The M3-1 zoned property consists of 2,500 square feet of industrial space with 14-foot ceilings on the ground floor, five roll-up garage doors and a five-bedroom apartment on the second floor that could easily be converted into office space. The certificate of occupancy currently allows for a restaurant on the ground floor and two residential units.
1318 Oak Point Avenue is located in the Hunts Point neighborhood of the Bronx. The property is situated steps from the Joseph Rodman Drake Park and is accessible by the Hunts Point Avenue subway station with access to the 6 train.