NEW YORK, NY – March 23, 2018 – Ariel Property Advisors has been exclusively retained to sell the leasehold of 840 Westchester Avenue, a retail/office building located on one of the busiest commercial corridors in The Bronx. Ownership is requesting proposals for the property.

The newly-constructed building (a.k.a. 845 Longwood Avenue), which spans 53,705 square feet, is located on the south side of Westchester Avenue, between Longwood Avenue and East 161st Street. The building contains two (2) retail units, two (2) office units, and a below-grade, 74-car capacity parking garage that extends 24,300 square feet.

The asset, which also boasts 174’ of prime footage along Westchester Avenue, also benefits from 83,321 square feet of air rights, a valuable feature that allows for further development.

Exclusive agents Jason M. Gold, Victor Sozio and Orry Michael are representing the owner.

The property is anchored by a Rite Aid and Dollar Tree on the ground floor, while the second floor is occupied by community-based organizations with long-term leases. The building’s tenants are responsible for paying their pro-rata share of operating expenses.

“This asset offers investors a rare opportunity to buy the leasehold interest of a newly-built building that has a strong tenant base and sits along one of the most active commercial thoroughfares in The Bronx,” said Jason M. Gold, Director at Ariel Property Advisors.

The building is also within walking distance of the 2 and 5 subway lines, providing residents swift and easy access to Manhattan and outer-borough locations.