Bronx Garage and Lot

275 Madison Avenue Third Floor New York, NY 10016 P. 212.696.2500 F . 212.696.
0333
www.masseyknakal.com
JAMES NELSON
212.696.2500
jnelson@masseyknakal.com
DAVID SIMONE
212.660.7725
dsimone@masseyknakal.com
MITCHELL LEVINE
212.660.7761
mlevine@masseyknakal.com
MATTHEW NICKERSON
212.660.7742
mnickerson@masseyknakal.com
MARCUS JECKLIN
212.660.5121
mjecklin@masseyknakal.com
751& 757
Concourse Village West
Prime Bronx Development / User Opportunity
This is a condential brochure intended solely for your limited use and benet in
determining whether you desire to express any further interest in the purchase of the
751 and 757 Concourse Village West, Bronx, NY 10451 (the Property).
This brochure was prepared by Massey Knakal Realty Services, (Massey Knakal)
and has been reviewed by representatives of Ownership. It contains selected
information pertaining to the Properties and does not purport to be all-inclusive or
to contain all of the information which prospective purchasers may desire. It should
be noted that all nancial projections are provided for general reference purposes
only in that they are based on assumptions relating to the general economy,
competition, and other factors beyond the control of Massey Knakal or Owner
and, therefore, are subject to material variation. Additional information and an
opportunity to inspect the Properties and plans will be made available to interested
and qualied investors. Neither Owner, Massey Knakal nor any of their respective
ofcers nor employees, have made any representation or warranty, expressed or
implied, as to the accuracy or completeness of this brochure or any of its contents,
and no legal commitments or obligations shall arise by reason of this brochure or any
of its contents. All square footage measurements must be independently veried.
Owner expressly reserves the right, at its sole discretion, to reject any or all expressions
of interest or offers to purchase the Properties and/or to terminate discussions with
any entity at any time with or without notice. Owner shall have no legal commitment
or obligation to any entity reviewing this brochure or making an offer to purchase
the Properties unless and until a written agreement satisfactory to Owner has been
fully executed, delivered, and approved by Owner and any conditions to Owner
obligations thereunder have been satised or waived.
By receipt of this brochure, you agree that this brochure and its contents are of a
condential nature, that you hold and treat it in the strictest condence, and that
you will not disclose this brochure or any of its contents to any other entity without
the prior written authorization of Owner nor will you use this brochure or any of its
contents in any fashion or manner detrimental to the interest of Owner or Massey
Knakal.
It is essential that all parties to real estate transactions be aware of the health,
liability and economic impact of environmental factors on real estate. Massey
Knakal does not conduct investigations or analysis of environmental matters
and, accordingly, urges its clients to retain qualied environmental professionals
to determine whether hazardous or toxic wastes or substances (such as asbestos,
PCBs and other contaminants or petrochemical products stored in underground
tanks) or other undesirable materials or conditions, are present at the Properties
and, if so, whether any health danger or other liability exists. Such substances may
have been used in the construction or operation of buildings or may be present as
a result of previous activities at the Properties.
Various laws and regulations have been enacted at the federal, state and local
levels dealing with the use, storage, handling, removal, transport and disposal of
toxic or hazardous wastes and substances. Depending upon past, current and
proposed uses of the Properties, it may be prudent to retain an environmental expert
to conduct a site investigation and/or building inspection. If such substances exist
or are contemplated to be used at the Properties, special governmental approvals
or permits may be required. In addition, the cost of removal and disposal of such
materials may be substantial. Consequently, legal counsel and technical experts
should be consulted where these substances are or may be present.
While this brochure contains physical description information, there are no references
to condition. Neither Owner nor Massey Knakal make any representation as to the
physical condition of the Properties. Prospective purchasers should conduct their
own independent engineering report to verify property condition.
In this brochure, certain documents, including leases and other materials, are
described in summary form. The summaries do not purport to be complete nor,
necessarily, accurate descriptions of the full agreements involved, nor do they
purport to constitute a legal analysis of the provisions of the documents. Interested
parties are expected to review independently all relevant documents.
The terms and conditions stated in this section will relate to all of the sections of the
brochure as if stated independently therein. If, after reviewing this brochure, you
have no further interest in purchasing the Properties at this time, kindly return this
brochure to Massey Knakal at your earliest possible convenience. Photocopying or
other duplication is not authorized. This brochure shall not be deemed an indication
of the state of affairs of Owner, nor constitute an indication that there has been
no change in the business or affairs of Owner since the date of preparation of this
brochure.
All zoning information, including but not limited to, use and buildable footage must
be independently veried.
Conf i denti al i ty & Condi ti ons
PROPERTY I NFORMATI ON
PROPERTY STATI STI CS
REVENUE AND EXPENSES
TAX MAP
PROPERTY PHOTOS
NEI GHBORHOOD MAP
ZONI NG
AERI AL MAP
DUE DI LI GENCE
CERTI FI CATE OF OCCUPANCY
TAXES
NEI GHBORHOOD DESCRI PTI ON
NEI GHBORHOOD OVERVI EW
BUS MAP
SUBWAY MAP
751 & 757
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CONCOURSE VI LLAGE WEST
PROPERTY
INFORMATION
751 & 757 Concourse Village West
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(1) All Square Footages Are Approximate
DESCRIPTION: A two story parking structure and parking lot located on one of the busiest streets in the Bronx. Combined, the parcels possess approximately 74,742 BSF and
offer approximately 331 of frontage. This is an excellent opportunity for an investor or developer in the Fleetwood / Grand Concourse section of the Bronx.
ASKING PRICE: $6,000,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently veried. Vacancy factors used herein
are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal
counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
For further information or inspection please contact Exclusive Agents:
JAMES NELSON
212.696.2500
DAVID SIMONE
212.660.7725
MITCHELL LEVINE
212.660.7761
MATTHEW NICKERSON
212.660.7742
MARCUS JECKLIN
212.660.5121
275 Madison Avenue Third Floor New York, NY 10016 212.696.2500 Fax 212.696.0333
LOCATION:
West side of Concourse Village West between East 156th Street
and East 158th Street in the Fleetwood / Grand Concourse
neighborhood of the Bronx
ADDRESS: 757 CVW 751 CVW TOTAL
BLOCK / LOT: 2458 / 124 2458 / 132 2458 / 124 & 132
LOT
DIMENSIONS:
178.5 x 126.6
(Approx.)
152.59 x 100
(Approx.)
331.09 x 126.6 Irr.
(Approx.)
LOT AREA:
22,112
(Approx.)
15,259
(Approx.)
37,371
(Approx.)
BUILDING
DIMENIONS:
N/A
152.42 x 100
(Approx.)
152.42 x 100
(Approx.)
EXISTING
GROSS SF:
None
30,400 SF
(Approx.)
30,400 SF
(Approx.)
STORIES: N/A 2 2
ZONING / FAR: C8-3 / 2.00 C8-3 / 2.00 C8-3 / 2.00
BUILDABLE SF:
44,224 SF
(Approx.)
30,518 SF
(Approx.)
74,742 SF
(Approx.)
BSF COMMUNITY:
143,728 SF
(Approx.)
99,183 SF
(Approx.)
242,911 SF
(Approx.)
AIR RIGHTS BSF:
44,224
(Approx.)
118
(Approx.)
44,542
(Approx.)
ASSESSMENT
(13/14):
$201,870 $422,550 $624,420
TAXES (13/14): $20,839 $43,620 $64,459
ASKING PRICE: $6,000,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently veried. Vacancy factors used herein
are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal
counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
For further information or inspection please contact Exclusive Agents:
JAMES NELSON
212.696.2500
MITCHELL LEVINE
212.660.7761
MATTHEW NICKERSON
212.660.7742
275 Madison Avenue Third Floor New York, NY 10016 212.696.2500 Fax 212.696.0333
DAVID SIMONE
212.660.7725
MARCUS JECKLIN
212.660.5121
8 TAX MAPS
751 & 757 CONCOURSE VILLAGE WEST
BRONX, NY
Grand Concourse
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9 ZONING MAP
BRONX, NY
New York Citys zoning regulates
permitted uses of the property;
the size of the building allowed in
relation to the size of the lot (oor
to area ratio); required open
space on the lot, the number
of dwelling units permitted; the
distance between the building and
the street; the distance between
the building and the lot line; and
the amount of parking required.
The Commercial district has Eight
different classications.
751 & 757 Grand Concourse are
zoned C8-3.
FAR: 2.0
10 ZONING INFORMATION
BRONX, NY
11 CERTIFICATE OF OCCUPANCY
BRONX, NY
TAXES
BRONX, NY
12
PROPERTY
PHOTOS
14
PROPERTY PHOTOS
BRONX, NY
15
PROPERTY PHOTOS
BRONX, NY
16 PROPERTY PHOTOS
BRONX, NY
NEIGHBORHOOD
DESCRIPTION
BRONX
18
BRONX, NY
BRONX
The borough of the Bronx boasts many world famous attractions, artistic expressions, miles of parks and over 60 landmarks & historic districts. It is where
people like Edgar Allen Poe and Mark Twain lived, and it is where break dancing and salsa music were born. It has a population of about l.4 million,
and by the late 1990s its bridges, highways, and railroads were more heavily traveled than those in any other part of the United States.
An amazing 24% of its land mass or 42 square miles is parkland including Pelham Bay Park, the largest park in the city. Its the home of the Bronx Zoo,
the largest zoo in the United States, as well as The Botanical Gardens, the Hall of Fame for Great Americans, and Yankee Stadium.
The Bronx has more institutions of higher education than most foreign countries. There are 12 colleges and universities including, Fordham University,
The Maritime College of the State of New York, three branches of the City University of New York (Lehman College, Bronx Community College, and
Hostos Community College), the Albert Einstein College of Medicine of Yeshiva University, the College of Mount St. Vincent, Manhattan College,
Mercy College, the College of New Rochelle, Audrey Cohen College and Monroe College.
The Bronx is named in memory of the areas rst European settler, Jonas
Bronck, who created the rst settlement along the Harlem River in 1639
in what is now Mott Haven. The Bronx was originally part of Westchester
County, and was ofcially included as a New York City borough on
January 1, 1898. The Bronx was nally named as New Yorks 62nd county
(and also its last-formed county) in 1914.
The history of the Bronx during the 20th century can be divided roughly
into four periods. The rst period was represented by the boom during
1900-1929. At the turn of the century, the quiet suburban streets and
farms of The Bronx began to yield to rapidly expanding factories and
urban neighborhoods. Inspired by Paris great Champs Elyses, the
boroughs main thoroughfare, the Grand Concourse, was completed
in 1914. By the 1920s the Fordham Road-Grand Concourse intersection
was a great commercial nexus and a center of tree-lined avenues,
with luxurious homes and apartment buildings designed in the latest Art
Deco and modernist styles.
19
BRONX, NY
During this time period, the South Bronx became the national epicenter of piano manufacturing. In 1918 the Bronx even hosted the rather small 1918
Worlds Fair at 177th Street and DeVoe Avenue. In 1900, the population of the Bronx was only 200,000, but by 1930 it had grown to 1.3 million. These
were the good times.
The second period is one of decline, and is marked by the onset of the Great Depression of 1929. Bootleggers and gangs began to take over, and
the oldest sections of the Bronx became poverty-stricken. Between the 1930s and the 1960s the moderate and upper income Bronxites began to
rapidly relocate from the southwestern neighborhoods of the borough leaving the poorest in the West Bronx.
The third period from the mid 60s through the 80s is symbolized by another decline in the quality of life in the Bronx brought on by in the opinion of
many the Cross-Bronx Expressway and the development of high-rise housing projects. During this time, the Bronx was plagued by a wave of arson
hitting the hardest in the South Bronx. Some attribute these res to the planned burning of buildings by landlords in an attempt to gather insurance
payouts. Others think that a downscaling of the municipal services including reghters caused the issue. The res became so bad that 7 of the 289
census tracts in the Bronx borough lost more than 97% of their buildings to re and abandonment between 1970 and 1980. Another 44 tracts lost
more than 50% of their buildings to the same fate. By the end of this third period, the South Bronx had lost almost 60% of its population and 40% of its
housing units.
After a period of dramatic population losses in the 1970s through the early 1980s, the population of the Bronx began to grow again making the fourth
period of Bronx history one of revitalization. The city formed a successful Ten-Year Housing Plan, and many community-focused non-prot groups
stepped in to help rebuild the area. Soon, national retailers such as Marshalls, Staples, and Target began opening stores in the Bronx. Co-op City
remained a successful development, luxury apartments built in Riverdale in the 1950s became cooperatives, and the housing stock continued to
include the worlds largest concentration of buildings in the art deco style. Entrepreneurs formed new businesses, and the boroughs public schools
became overcrowded with new immigrants.
In 1997 the Bronx was granted the All-America City Award by the National Civic League, acknowledging its comeback from a dramatic decline.
Between 2002 and 2007, over 33,000 new units of housing were built or under way, and $4.8 billion had been invested in new housing. In more recent
years, this trend has only continued. Today, the New York City Economic Development Corporation is focusing on Melrose Commons / Third Avenue,
the Bronx Civic Center, Lower Grand Concourse via rezoning, and the funding of various community projects as part of Michael Bloombergs South
Bronx Initiative.
BRONX
20
BRONX, NY
ATTRACTIONS
The Bronx Zoo, located in Bronx Park, is the largest metropolitan zoo in the United States containing over 6,000 animals and representing about 650
species from around the world. The zoo is comprised of 265 acres of park lands and natural habitats, and has been in existence since 1899.
The New York Botanical Gardens are also located in Bronx Park, and span 250 acres. The Gardens are also home to the Pzer Plant Research Laboratory
and the Enid A. Haupt Conservatory. The facility offers year-round exhibitions and ower shows, and it is visited by over 800,000 guests annually.
Yankee Stadium, home of the New York Yankees, is located on East 161st Street in the South Bronx. The newly constructed stadium opened in 2009 as a
replacement for the old 1923 stadium built on Macombs Dam Park. The new stadium is also home to Monument Park, an open-air museum containing
a collection of monuments, plaques, and retired numbers honoring distinguished members of the New York Yankees.
The Kingsbridge Armory, also known as the Eighth Regiment Armory, is located on West Kingsbridge Road. It was originally built in the 1910s to house
the National Guards Eighth Coastal Artillery Regiment unit. Today, it is a city landmark and included on the National Register of Historic Places. City
Council recently approved a $320 Million proposal to transform the Armory into the Kingsbridge National Ice Center. Scheduled to open in 2017 with
9 ice rinks it will be the worlds largest ice center.
The Bronx Museum of the Arts is a cultural institution located on the Grand Concourse at East 165th Street. The museum was founded in 1971, but
a 19-million-dollar addition was made in 2006 doubling the size of the space. The musuem is an internationally recognized cultural destination that
presents contemporary art exhibitions and educational programs. The Hall of Fame for Great Americans is an outdoor sculpture gallery located on the
grounds of Bronx Community College. It contains 98 bronze portrait busts.
Van Cortlandt Park is a 1,146-acre park located in the north of the Bronx and the third largest park in New York City. The park also contains the Van
Cortlandt House Museum, which is the oldest building in the Bronx. It was built in 1748 by Frederick Van Cortlandt for his family, and it is a National Historic
Landmark now operating as a museum. Other features of the park include Van Cortlandt Lake, the largest body of freshwater in the Bronx, and the
Van Cortlandt Nature Center.
Pelham Bay Park is located in the northeast corner of the Bronx extending partially into Westchester County. At 2,442 acres, Pelham Bay Park is the
largest public park in New York City. It is more than three times the size of Manhattans Central Park.
BRONX
21 BRONX
BRONX, NY
BRONX TODAY
Starting in the mid-80s, New York City poured $500 million a year into affordable housing, much of which went into the South Bronx. City ofcials
used the money effectively, avoiding the terrible mistakes of old-style top-down urban renewal. They provided both funding and expertise for the
nonprots and CDCs who have received most of the credit for the boroughs revival. These groups include the Northwest Bronx Community and Clergy
Coalition, the Mid-Bronx Desperadoes, UHAB, Los Sures, and St. Nicks Alliance.
The result is that the South Bronx today has returned as a vibrant community. The economic rebound does not represent classic gentrication. Unlike
the master planned urban renewal projects that displaced thousands of inner city residents in previous decades, the South Bronx is an unplanned
phenomenon the result of market forces with incentives from the government and community organizations. The resurrection of the South Bronx
represents by far the most signicant renewal of a derelict tract of urban land in the United States.
CONCOURSE VILLAGE NEIGHBORHOOD DESCRIPTION
The Concourse Village neighborhood is home to 1,883 homes and is a strong family centered enclave within the South Bronx community. Concourse
Village consists of six residential high-rise buildings, and one community center. The neighborhood is next to the new Yankee Stadium and the one
million square foot shopping mall, Bronx Terminal Market. The Concourse Village area is next to the Bronx Court System, the Bronx Museum of the Arts,
and many Art Deco buildings along the Grand Concourse Historic District. The neighborhood offers great transportation options as it is within walking
distance to the B, D, and #4 subway lines at East 161st and River Avenue, as well as the 4, 2, and 5 subway lines at E 149th St and the Grand Concourse.
There is a Metro-North station (Yankee Stadium stop) at River Avenue and East 151st Street.
22 NEIGHBORHOOD MAP / AERIAL MAP
BRONX, NY
23 SUBWAY MAP
BRONX, NY
24 BUS MAP
BRONX, NY
25 BIRDS EYE VIEW
BRONX, NY
JAMES NELSON
212.696.2500
DAVID SIMONE
212.660.7725
MITCHELL LEVINE
212.660.7761
MATTHEW NICKERSON
212.660.7742
MARCUS JECKLIN
212.660.5121
CONCOURSE VILLAGE WEST
Bronx, NY 10451
751 & 757

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