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B6 Markets Ground Lease on South Bronx Site

B6 Real Estate Advisors is marketing 350 Grand Concourse, an approximately 240,000-buildable-square-foot site in the South Bronx. The firm’s Christoffer Brodhead, Mitchel Flaherty and Nikola Cosic intend to negotiate a 99-year ground lease on behalf of the seller, GS Humane Corp.
 
The site is currently a gas station owned by GS Humane, a private foundation based in New York primarily focused on animal welfare, education, combatting hate and anti-Semitism, and Jewish education. Founder Gene Shapiro, who passed away in 2015, was a gas and oil broker who owned multiple gas station properties throughout New York City.

B6 says the seller is aiming for a ground lease rather than an outright sale because the foundation was “built” through triple net leases and the 99-year ground lease allows the site to stay within the foundation. The site represents an opportunity for an affordable housing developer, according to B6.
 

For comments, questions or concerns, please contact Paul Bubny 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition
  • ◦Lease