Tri-State Investment Sales team leading marketing efforts for corner Opportunity Zone site offering up to approximately 99K buildable square feet
The Tri-State Investment Sales Group for Avison Young has been named the exclusive agent for the sale of 751 Concourse Village West, a development site offering up to 99,184 buildable square feet in an Opportunity Zone in the Bronx. The asking price is $8,995,000.
James Nelson, Principal, Head of Tri-State Investment Sales along with Director Daniel Tropp, and Associate Directors Fritz Richter, Allan Fries, Toku Saito and Willis Fries will market the 15,259-square-foot lot located on the corner of Concourse Village West and East 156th Street.
The site, which allows for commercial or community facility use,is currently being used as a 30,400-square-foot parking garage managed on a month-to-month basis,so it can be delivered vacant upon its sale. With the inclusion of a community facility component, the property has the potential for up to approximately 99,184 buildable square feet.
“This is a great investment and its location within an Opportunity Zone provides its future buyer with immediate tax benefits,” said Nelson. “Just a few blocks from Yankee Stadium, the Grand Concourse, Major Deegan Expressway and Harlem River, this Bronx site provides a unique op-portunity for an investor to acquire a development site in one of New York City’s fastest growing neighborhoods.”
The community facility component allows for school,hospital and other medical uses, which are expanding in the area. The property is near several transit options including the B, D and 4 MTA Subway trains as well as the Metro-NorthRail Melrose Station.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquar-tered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, manage-ment and financing services to clients across the office, retail, industrial, multi-family and hospi-tality sectors.
