August 13, 2019 Comments Off on Retail/Apartment Site Comes to Market Along Bronx Corridor Views: 574 New York News, Uptown/Bronx New York

Retail/Apartment Site Comes to Market Along Bronx Corridor

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Cushman & Wakefield has been retained to arrange the sale of 975 E. 233rd St., a 5,780-square-foot mixed-use site in the Bronx’s Wakefield neighborhood. A team 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 Squires. “Our asking price of $2 million allows for a 6% return, which is a good return for a mixed-use property on a strong Bronx retail corridor.”

975 E. 233rd 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” TV series.

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