Besen & Associates - LoopNet · Besen & Associates, Inc. or Owner. The material is based in part upon information supplied by the Owner and in part upon information obtained by Besen

Besen & Associates

Investment Sales Team

Ronnie Shaban

Senior Director

(646) 424-5062

[email protected]

Besen & Associates

381 Park Avenue South

New York, NY 10016

Tel: 212.689-8488

Fax: 212.689-9518

Table of Contents

Executive Summary

Investment Highlights

Property Overview

Location Map

Property Photos

Location Overview

Transportation Maps

Zoning Overview

4

8

13

16

Executive Summary

Besen & Associates, as exclusive agent for ownership, is pleased to offer for sale 2400 Grand Concourse, Bronx, NY 10458 (the “Property”); a

single-story retail building with approximately 2,852± RSF on the ground floor and a 2,852± SF selling basement with a double staircase and

14 feet ceiling heights. There are additional air rights of approximately 6,246± SF. Near the Fordham Road Station on the [B, D] subway trains.

The Property is situated on the Grand Concourse, an area in Fordham Heights featuring bustling retail and high foot traffic.

OFFERING SUMMARY

2400 Grand Concourse, Bronx, NY 10458 | 5

ASKING PRICE: $4,800,000


INVESTMENT HIGHLIGHTS

Built circa 1924, this single-story retail building totals approximately 3,565± SF

Neighborhood of Fordham Heights in the Bronx, located on the Grand concourse, a highly coveted retail area boasting high foot traffic

Incoming 10-year tenant (recently signed), making the Property prime for a steady cash-flowing asset

2,852± SF basement with a double staircase and 14’ ceilings

1 block from the MTA Fordham Road [B, D] subway station and 4 blocks away from the Fordham Road Station [4] train. The property is also

minutes away from Fordham Metro-North Station. The [BX1, BX2] bus stop on the Grand Concourse is situated across the street from the property

Well served for vehicular transportation, the property is situated between the Major Deegan (I-87) and the Cross Bronx Expressway (I-95) as well

as the Bronx River Parkway

In the vicinity of: Fordham University, Monroe College, New York Botanical Garden, the Bronx Zoo, Saint James Park, and the James J. Peters VA

Medical Center


AERIAL MAP

2400 Grand Concourse

East Fordham

Academy for

the Arts

Muller Triangle

Bronx Library

Center

Slattery

Playground

Property Overview

PROPERTY OVERVIEW – 2400 GRAND CONCOURSE Neighborhood Fordham Heights

Block / Lot 3152 / 47

Lot & Built Size

Year Built

50’ x 59’ (built 50’ x 55’)

Circa 1924

Building Size

Building Class

3,565± SF plus basement

One-Story Retail Building (K1)

Stories One-story + Useable Basement

Zoning C4-4

FAR (built / allowed) 1.25 (3.44 Residential / 3.4 Commercial / 6.5 Community Facility)

Assessment & Real Estate Taxes (2017 / 2018) $213,480 / $22,573



LOCATION MAP


Property Photos

EXTERIOR


Location Overview

Fordham is a group of neighborhoods located in the western Bronx, New York City. These neighborhoods are part of Bronx Community Board 5.[2] Fordham is roughly

bordered by Fordham Road to the north, Southern Boulevard to the east, East 183rd Street to the south, and Jerome Avenue to the west. The neighborhood's primary

thoroughfare is Fordham Road; its main subway line is the IND Concourse Line (B D trains), operating under the Grand Concourse, with the IRT Jerome Avenue Line (4

train) on its western border. ZIP codes include 10453, 10457, 10458 and 10468.

Fordham has a population of around 43,394 people. Its first growth was in the 1920s, when middle-class and working-class families from Manhattan flocked into the area,

attracted by the then-modern housing and convenient subway access by Concourse, Jerome Avenue, and Third/Webster Avenues lines to business districts in Manhattan

where they could work and shop. It is now predominately Latin American and African American. There is a significant historic Italian and Albanian population as well.

Fordham is dominated by 5- and 6-story apartment buildings, often set flush to the sidewalk. Many of the apartments on the Grand Concourse are taller.

The New York Botanical Garden and the Wildlife Conservation Society's Bronx Zoo, both inside Bronx Park, collectively occupy dozens of acres of land within the

neighborhood.

Fordham University maintains its historic original campus on much of the former Rose Hill Manor in the center of the neighborhood. It is one of the largest "green"

campuses in New York City, and its traditional collegiate gothic architecture often serves as a backdrop for television and film productions.

The Fordham Road Business Improvement District operates on the northern border of the neighborhood. This retail district is the longest in the Bronx.

LOCATION OVERVIEW




SUBWAY MAP BUS MAP

Subject Property

Subject Property

Zoning Overview

*C4 districts are mapped in regional commercial centers, such as Flushing in Queens and the Hub in the Bronx, that are located outside of the central business districts. In these areas,

specialty and department stores, theaters and other commercial and office uses serve a larger region and generate more traffic than neighborhood shopping areas. Use Groups 5, 6, 8, 9,

10 and 12, which include most retail establishments, are permitted in C4 districts. Uses that would interrupt the desired continuous retail frontage, such as home maintenance and repair

service stores listed in Use Group 7, are not allowed.

C4 districts with an A, D or X suffix are contextual districts in which the commercial and residential bulk and density regulations can differ from corresponding non-contextual districts. Some

districts have the same commercial and residential floor area ratios (FAR) as shown in the table, but may differ in parking requirements. Floor area may be increased with a public plaza or

Inclusionary Housing Program bonus.

C4-1 districts are mapped in outlying areas, such as the Staten Island Mall, that require large amounts of parking. C4-2 through C4-5 districts are mapped in more densely built areas, such

as Steinway Street in Astoria (C4-2A), Fordham Road (C4-4), and parts of Jamaica (C4-5X). C4-6 and C4-7 districts are mapped in densely built areas in Manhattan, including most of

Broadway on the Upper West Side (C4-6A) and portions of central Harlem (C4-7).

*Note: Data taken from NYC Department of City Planning.


ZONING OVERVIEW


C4-4


The information contained in this listing (“Listing”) is confidential, furnished solely for the purpose of review by

a prospective purchaser of the following property: 2400 Grand Concourse, Bronx, NY 10458 and is not to be

used for any other purpose or made available to any other person without the express written consent of

Besen & Associates, Inc. or Owner. The material is based in part upon information supplied by the Owner and

in part upon information obtained by Besen & Associates from sources it deems reliable. Summaries of

documents are not intended to be comprehensive or all inclusive, but rather only an outline of some of the

provisions contained therein. No warranty or representation, expressed or implied, is made by Owner, Besen

& Associates or any of their respective affiliates, as to the accuracy or completeness of the information

contained herein or as to engineering or environmental matters. Prospective purchasers should make their

own projections and conclusions without reliance upon the materials contained herein and conduct their own

independent due diligence, including inspections.

This Listing contains selected information pertaining to the Property and does not purport to be all-inclusive or

to contain all of the information a prospective purchaser may desire. Graphics are only a representation of

property features, are not to scale and are subject to change. All financial projections are provided for general

reference purposes only and are based on assumptions relating to the general economy, competition and

other factors beyond control and are, therefore, subject to material change or variation. An opportunity to

inspect the Property will be made available to qualified prospective purchasers.

In this Listing, certain documents, including leases and other materials, are described in summary form. The

summaries do not purport to be complete or necessarily accurate descriptions of the full agreements involved,

nor do they constitute a legal analysis of such documents. Interested parties are expected to independently

review all documents. This Listing is subject to prior placement, errors, omissions, changes or withdrawal

without notice and does not constitute a recommendation, endorsement or advice as to the value of the

Property by Besen & Associates or Owner. Each prospective purchaser is to rely upon its own evaluation as

to the advisability of purchasing the Property described herein.

Owner and Besen & Associates expressly reserve the right, at their sole discretion, to reject any or all

expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at

any time with or without notice. Owner shall have no legal commitment or obligation to any purchaser

reviewing this Listing or making an offer to purchase the Property unless a written agreement for the purchase

of the Property has been fully executed, delivered, and approved by Owner and any conditions to Owner’s

obligations there under have been satisfied or waived. Besen & Associates is not authorized to make any

representations or agreements on behalf of Owner.

This Listing is the property of Besen & Associates and may be used only by parties approved by Besen &

Associates and Owner. The Property is privately offered and, by accepting this Listing, the party in possession

hereof agrees (i) to return it to Besen & Associates immediately upon request of Besen & Associates or

Owner and (ii) that this Listing and its contents are of a confidential nature and will be held and treated in the

strictest confidence. No portion of this Listing may be copied or otherwise reproduced or disclosed to anyone

without the prior written authorization of Besen & Associates and Owner. The terms set forth above apply to

this Listing in its entirety.


CONFIDENTIALITY & DISCLAIMER

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is

subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property

of any hazards contained therein nor are any implied. Rendering pictured in offering materials is not specifically approved for referenced development site. Buildable square footage is subject to verification

by purchaser’s own architect and/or zoning attorney.

Besen & Associates

Investment Sales Team

Ronnie Shaban

Senior Director

(646) 424-5062

[email protected]

Documents

Besen & Associates - LoopNet · Besen & Associates, Inc. or Owner. The material is based in part upon information supplied by the Owner and in part upon information obtained by Besen