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Another Property Sold Blocks from Kingsbridge Armory

By DAVID CRUZ

Another piece of property has sold for nearly $15 million in Kingsbridge, blocks from the Kingsbridge Armory. The transaction is just another sign of growing real estate activity near the Armory that’s now slated to become an enormous ice skating center.

Eastern Consolidated brokered a deal with an unnamed buyer for the real estate property at 135-145 W. Kingsbridge Rd. just near the James J. Peters Veterans Hospital.

The 67,000-square-foot property, is home to a six-story walk-up complete with 10 occupied retail stores and 57 mostly rent-regulated apartments.

“The strength of the retail was a driving force in achieving the price that we were able to obtain, as well as the recent attention the Bronx has been enjoying,” said Adelaide Posinelli, who represented Eastern Consolidated. “The investor appetite for core residential investments is continuing at a rapid clip in every borough.”

Ronda Rogovin, principal and senior director at Eastern Consolidated who represented the buyer, said the property has “future upside,” noting it is a “desirable addition to the portfolio of the investor.”

The news comes roughly a year after merchants at another property across the street from the Armory, were hit with increased rents. Retail tenants suspected New Kingsbridge LLC of pricing them out to bring in higher-paying retail tenants.

The Kingsbridge National Ice Center would be the world’s largest ice skating center, with many real estate analysts considering the project a major game changer for the Bronx.

 

 

 

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