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One-Story South Bronx Building to be Redeveloped with Multiple Floors
Lee & Associates NYC principal Steve Lorenzo arranged the sale of 2970 Third Ave. in the South Bronx’s The Hub on behalf of both the seller, The Jackson Group, LLC, and the buyer, 5 Boro Real Estate Partners. The property traded for $8.75 million.
5 Boro Real Estate Partners plans to redevelop 2970 Third Ave., currently a 15,000-square-foot single-story corner building into a 100,000-square foot, mixed-use building. Lee NYC has also been tapped to exclusively market the redevelopment, which will include multiple floors of new retail and commercial space.
“This prime real estate corner is described as the Broadway of the Bronx–there is rich history, culture, restaurants, and retail that has added to the vibrancy of the neighborhood,” said Lorenzo. “We’re excited to work with 5 Boro Real Estate Partners to help reimagine the building and deliver the new, high-quality space to the market.”
- ◦Sale/Acquisition

