By DAVID CRUZ
An office building home to a struggling social services firm in Norwood is up for sale, amid heavy selling and buying in the Bronx.
The building has been home to Federation Employment & Guidance Service (FEGS), an 81-year non-profit that offers education, healthcare, disability care, housing and employment services primarily for the Jewish community, according to its website. The organization boasts 350 other locations citywide. A report in the New York Daily News in January said the firm is on the edge of filing for bankruptcy after laying off several dozen employees and revealing it’s $20 million in debt.
Massey Knakal Realty Services, the real estate firm recently acquired by Cushman and Wakefield, has priced the two-story building, 3600 Jerome Ave., for $13.5 million, according to its latest listing. The 50,000-square-foot property is adjacent to the last stop on the #4 subway line and is walking distance from Woodlawn Cemetery. It’s also across the street from the Croton Water Filtration Plant, which has undergone construction for over a decade. A Massey Knakal spokeswoman could not reveal the name of the owner. Building records show the site to be owned by Astro Health & Rehabilitation Services, Inc.
The listing noted the M-1 “zoning and configuration are ideal for a user such as a not-for-profit or possibly even redevelopment,” a buzzword that’s hear around the Bronx in recent months.
Some amenities at the site include an indoor garage, 100 small offices, 30 classrooms, 20 bathrooms and some conference and staff break-rooms. It’s unclear whether FEGS will vacate the property. A spokesperson did not return call seeking comment.
Norwood has especially seen a swell of redevelopment, primarily along Webster Avenue, which is seeing several projects ranging from mixed-use apartment buildings to supportive housing shape the corridor.