GFI Realty Services, LLC today announced the $5.875-million sale of 316-322 East 149th Street, a two-story retail property located in the Mott Haven section of the Bronx. GFI Realty Senior Managing Director Matthew Sparks represented both the seller, Maria D’Onofrio, and the buyer, a local investor.
Constructed in 1931, the 12,000-square-foot property is comprised of 6,000 square-feet of ground floor retail space and 6,000 square-feet of office space on the second floor. The asset also boasts 100’ of frontage on East 149th Street in the heart of the HUB, a major commercial district in the area. Additionally, the asset situated on an 8,600 square-foot lot, has approximately 17,544 square-feet of air rights available.
“This acquisition, situated in one of the most dynamic and thriving commercial corridors in the Bronx, is a great value add opportunity for the buyer” said Sparks.
The asset is ideally situated just half a block away from Lincoln Medical Center, the 3rd Avenue commercial corridor and is within a short walk of the 2-5 subway lines.