Cushman & Wakefield arranged the sale of an 11,104-square-foot motel at 1440 E. 222nd St. in the Bronx’s Baychester neighborhood. The final sale price was $5,500,000.
Cushman & Wakefield’s Jonathan Squires, Josh Neustadter and Austin Weiner represented the seller, Bay Chester Motel, Inc.. The property was acquired by Bay Plaza 1440 LLC.
“This offering was a rare opportunity to purchase a value-add motel in the North Bronx right off I-95 and steps to various forms of public transportation,” said Squires. “This sale is part of the continuous redevelopment of the Bronx as both a place to live and a destination.”
The motel features 25 units, an accessory office and 35 parking spaces. The property will be delivered vacant.
The property is accessible via the Baychester Avenue subway station serviced by the 5 train. It is surrounded by an array of retail, dining and entertainment options.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!