Savitt Partners was named the exclusive leasing and marketing agent for 708 East Tremont Avenue in the Bronx.
The Savitt Partner team of Hector Rodriguez and David Workman are the exclusive sales and leasing agents.
“This development represents a tremendous opportunity for someone who desires not only an iconic entertainment property, but also additional nearby sites in the heart of one of the Bronx’s hottest burgeoning residential neighborhoods,” said Rodriguez.
“To this end, 708 Tremont Avenue can ultimately be transformed into a 100,000 s/f apartment complex that respects and pays homage to its theatrical heritage.”
However, he emphasizes that there are a plethora of development options available for this site that incorporate office, retail and residential components.
The property consists of the 15,000 s/f former Fairmount Theater that has 40 ft. ceilings and the option for multiple additional floors, as well as two existing structures or flexible development sites. Individual floors of nearly 4,400 s/f are available, or contiguous blocks for close to 22,000 square feet can be leased. There also exists the ability to develop a new structure incorporating the theater along with a nearby parking lot.