Cushman & Wakefield Arranges Sale of Mixed-Use Building in Westchester Square, Bronx
New York, NY – February 20, 2018 – Cushman & Wakefield today announced that the firm has arranged the sale of a 20,930-square-foot mixed-use apartment building located at 1618 Benson Street in the Westchester Square neighborhood of the Bronx. The final closing price was $4,550,000.
A Cushman & Wakefield brokerage team consisting of Senior Managing Director Guthrie Garvin and Executive Director Karl Brumback represented the seller. The site was purchased by SKYC Management.
“This was an exceptional opportunity for the buyer to acquire a mixed-use building in an ascendent central Bronx neighborhood,” said Guthrie Garvin of Cushman & Wakefield. “In walking distance to the Westchester Square subway stop and ‘the square’ shopping district, 1618 Benson Street offers significant advantages for the buyer.”
The five-story mixed-use apartment building features 23 residential units and three commercial units, all of which are currently occupied. The building also features billboard space and cellular antennas, which are operated by Sprint Corp. 1618 Benson Street offers more than 50 feet of frontage on East Tremont and 50 feet of frontage on Benson Street.
Located on the north side of Benson Street between Marclay Avenue and St. Raymonds Avenue, the property is a short walk from the Westchester Square-East Tremont Avenue subway station, which is served by the 6 subway line. Additionally, the property is centrally located between major roadways including East Tremont Avenue, Hutchinson River Parkway, Cross Bronx Expressway and the Bronx River Parkway.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Featured image c/o Westchester Square Business Improvement District
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