CityBizList | December 16, 2016
GFI Realty Services, LLC today announced the $1.475-million sale of 6661 Broadway, a single-story retail center comprised of six stores in the North Riverdale section of The Bronx. This corner asset is located at the intersection of Broadway and West 262nd Street. The property totals 4,750 square feet, and has approximately 30,000 square feet of air rights available.
Shawn Sadaghati of GFI Realty represented the seller, a local investor. Aron Taub, also of GFI, procured the buyer, who is also a local investor.
“The seller recognized that the value of this asset was not only in its prime location, but also the 30,000 square feet of air rights that allow the buyer to retain the commercial in the front and potentially develop the rear of the parcel,” said Sadaghati.
Taub added: “The buyer intends to not only utilize the air rights, but also improve the quality of the tenancy to maximize the 95 feet of frontage on Broadway, a major commercial corridor.”
The asset is surrounded by large multifamily buildings, and is positioned just below The Bronx’s border with Yonkers, New York.
About GFI Realty Services, LLC
GFI Realty Services, LLC imparts strategic and comprehensive solutions to maximize the value of real estate assets. Offering a wide array of brokerage services including investment sales, commercial real estate financing and retail leasing, GFI Realty Services, LLC utilizes its affiliate companies’ fully-integrated platform to provide owners, buyers, landlords and tenants nationwide with the market knowledge and due diligence required to consummate multifaceted transactions.
The company’s extensive knowledge of the commercial real estate industry, advanced analytical capabilities and incomparable client services position its executives as masters at executing off market and complex deals that require the most innovative solutions. For more information, visit GFIRealty.com.
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