Q4 Rocked in the Bronx
Residential deals dominated the list of the top 10 Bronx sales in the fourth quarter of 2017, but the top spot belonged to an office building.
The roughly $115 million sale of 260 East 161st Street, a 10-story office building, was the biggest deal in the borough throughout the fourth quarter, according to data from Real Capital Analytics. The sale topped the list by a wide margin, as it was roughly 2.5 times larger than the second-largest deal and made up more than a third of the list’s overall value.
The top 10 deals were worth a total of about $324 million, higher than the third quarter total of about $315.9 million, the second quarter total of about $232 million and the first quarter total of about $296 million. They consisted of six residential sales, one office sale, one self-storage sale, one industrial sale and one retail sale.
Other notable fourth quarter deals included the roughly $44.4 million sale of 2103-2115 Honeywell Avenue in West Farms and the roughly $40 million sale of a self-storage site at 1260 Zerega Avenue in Parkchester.
The full list of top 10 Bronx deals for the fourth quarter is as follows:
1. 260 East 161st Street, approximately $115 million
Seller: Arcadia Realty, PA Associates
Jamestown’s $115 million purchase of this major South Bronx office-and-retail building topped the list of biggest fourth quarter deals in the borough. The property is located close to Yankee Stadium and sits across the street from the borough’s courthouses. Its tenants include Starbucks, Chipotle and Montefiore Medical Center. It is 72 percent occupied overall. The building spans 277,000 square feet and stands 10 stories tall, and Jamestown is funding its purchase with a $63.7 million loan.
2. 2103-2115 Honeywell Avenue, approximately $44.4 million
Buyer: FBE Limited
Seller: Rajmattie Persaud
FBE Limited, run by the... FULL ARTICLE: https://therealdeal.com/2018/01/22/these-were-the-biggest-q4-deals-in-the-bronx/