New York, NY – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of a 11,838-square-foot industrial parcel located at 758-764 East 138th Street in the Bronx. The final sale price was $5,300,000, equating to $448 per square foot.
Cushman & Wakefield’s Jonathan Squires, Josh Neustadter and Austin Weiner represented the seller, Saji Business Corp., in the transaction. The property was acquired by U-Haul.
“Parking in the Bronx has become increasingly unfeasible,” said Squires. “We saw significant interest in this property as the insatiable demand for industrial land continues to grow.”
The property has M1-2 zoning and approximately 23,676 total buildable square feet.
The asset is located steps away from the Cypress Avenue subway station serviced by the 6 train. The property is located near the Major Deegan, Bruckner and Cross Bronx Expressways, providing convenient access to the surrounding neighborhoods.
A photo of the property can be downloaded here.