JRT Realty Group announced that the firm has been tapped by a joint venture of Madison Realty Capital, The Bluestone Group, Altmark Group, and Galil Management to exclusively lease the Union Crossing building at 825 East 141st Street in the South Bronx.
A JRT Realty Group brokerage team consisting of President Greg Smith, Executive Managing Director Ellen Israel, and Director Lauren Calandriello will represent ownership.
“Union Crossing is a unique property located in a growing commercial neighborhood,” said Ellen Israel of JRT Realty Group.
“Its waterfront and skyline views, expansive high-quality space, and accessibility to Manhattan will attract a diverse range of tenants within the industrial, creative, TAMI, non-profit, government, and retail sectors.”
“The South Bronx has great potential to foster new live/work/play environments that serve current and future residents and businesses,” said Josh Zegen of Madison Realty Capital.
“This full-scale transformation of a warehouse building into a vibrant, mixed-use facility will establish a new hub of commercial activity in a growing neighborhood, bringing new jobs and retail amenities to the area.”
The eight-story, approximately 275,000 s/f property is currently undergoing a major capital improvement program which includes installation of new windows, elevators, MEP systems, and restrooms, and the provision of additional power for the building. The newly renovated, fully available mixed-use center will offer office, light industrial, and retail space.
The property will include an open ground level for retail and dining spaces, expansive floor plates on the upper floors, and the potential for rooftop activation.
The building’s façade has also undergone exterior restoration and will feature large-scale murals, and the streetscape will be enhanced with a new landscaped plaza space.
Located in the Port Morris neighborhood of the Bronx, Union Crossing is close to the number 6 subway station at East 143rd Street and adjacent to the Bruckner Expressway.
The waterfront neighborhood is situated along the Harlem and East Rivers and offers river views to many of its tenants. Area businesses include Silvercup Studios, Bronx Brewery, Port Morris Distillery, Fresh Direct, and the Bruckner Market.