New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Value-Add Motel Property Trades in North Bronx
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.
- ◦Sale/Acquisition
