260 E 138th St
Bronx, NY 10451
Office Property For Sale

Ackman-Ziff Real Estate Group, as exclusive advisor to Ownership, is pleased to offer for sale, as a package or individually, the fee simple interests in 2535 Third Avenue and 260 East 138th Street. The two-building mixed-commercial assemblage is located on the corner of 138th Street and Third Avenue in the rapidly appreciating Mott Haven neighborhood of the South Bronx. The Properties offer a combined 21,400 SF of mixed commercial space. Ownership recently completed a high-end office renovation of the top four floors of the elevator building at 260 East 138th Street, leaving the ground floor ready for improvements to accommodate a prime retail tenant. 2535 Third Avenue is occupied by a mix of short-term commercial tenants and contains a newly renovated, vacant 4-bedroom apartment on the third floor– all offering strong cash flow to support a potential re-positioning of the asset. Whether purchased together or separately, the Properties offer flexibility to owner-users and investors alike given the Special Mixed Use District (MX-13) zoning designation, Opportunity Zone location, and ability of Ownership to deliver both buildings vacant. The immediate area is among the Bronx’s most desired locations for investor capital and one of New York City’s most active for new development. In addition to several ongoing and completed developments along 138th Street, Third Avenue, and Bruckner Boulevard, planned projects for this section of Mott Haven include Harlem River Yards and Brookfield’s Waterfront megaproject – the first and second largest developments ever planned for the Bronx, respectively. The Properties are further enhanced by their proximity to the 6 train across the street and the 4/5 trains a few blocks away at 138th Grand Concourse. Other notable nearby points of interest include a Chase bank branch, Gun Hill Tavern, Mott Haven Bagel & Barista, newly developed Comfort Inn & Suites, The Mott Haven Bar & Grill, Charlies Bar & Kitchen in the Clocktower Building, and the area’s first crossfit gym, Crossfit Concrete Jungle.