Acadia Realty Trust has sold a Class A office building in the Bronx for $115 million.
Holliday Fenoglio Fowler (HFF) announced the sale of 260 East 161st Street, an office and retail building totaling 276,622 s/f.
The HFF team represented Acadia and procured the buyer, Jamestown. Additionally, HFF is currently working on behalf of the buyer to arrange financing for the asset.
Originally built in 1930, 260 East 161st Street was renovated in 2016 and features 245,470 s/f of office space and 20,572 s/f of retail space.
The 10-story property is leased to office tenants, including The City of New York, The Legal Aid Society, Montefiore Medical Center and retail tenants, Walgreens, Starbucks and Chipotle Mexican Grill.
It is located in the most heavily trafficked office and retail corridor in the Bronx – the East 161st corridor in Concourse Village – near the borough courthouses and city government buildings as well as Yankee Stadium.
The HFF investment advisory team representing the seller included executive managing director Michael Tepedino, senior managing director Andrew Scandalios, managing directors Graham Stephens and David Giancola and senior director David Fowler. HFF’s debt placement team representing the borrower includes managing director Christopher Peck and senior director Peter Rotchford