Eastern Consolidated Arranges Sale of Bronx Warehouse to Abingdon Square Partners for $12.5 Million
NEW YORK, NY – February 27, 2018 – Eastern Consolidated has arranged the sale of a ±90,000-square-foot warehouse at 425-437 Devoe Avenue & 439-449 Devoe Avenue in the West Farms section of the Bronx to Abingdon Square Partners for $12.5 million.
Directors Jacob Tzfanya and Ben Biberaj represented the seller, a custom wood door manufacturer whose grandfather ran an ice manufacturing business from the site in the early 1900s before refrigerators were invented. The pair also procured the buyer.
“This is the second warehouse investment that Brooklyn-based Abingdon Square Partners has made in the Bronx in recent months as the firm is very bullish on the borough,” Tzfanya said.
Biberaj added, “In recent years the warehouse has been used primarily for storage. Abingdon plans to continue the industrial use to meet the intense demand for distribution space and also pursue office and community facility uses given the site’s central location and excellent access to transportation.”
In October 2017, Abingdon Square Partners purchased a 50,000 warehouse at 521 Bergen Avenue in the Hub section of the Bronx. The firm is renovating and repositioning the building as an office and retail opportunity. Eastern Consolidated’s Retail Leasing Division is the exclusive leasing agent for the property.
Powered by a highly skilled team of 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter @EasternConsol.
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