DescriptionThe Bronx is Booming!
Brand New Retail Development Opportunity.
Located at the cross streets of Jerome and Elliot Place in the Bronx, at 1362 - 1368 Jerome Avenue, sits 12,000 square feet of vacant property. Available for one large tenant or multiple small tenants, this new development also has the potential for bi-level occupancy - with 2nd floor retail or office space. We will build-to-suit and consider the buyer’s suggestions for custom development.
Parking is available lining the property on Jerome Street and Elliot Place, and the Metropolitan Transportation Authority subway and bus stop is less than a block away (at E. 170th Street and Jerome) for convenient commuting access, as well as I-95 and I-87. The property is easily accessible via car, subway, and bus.
Spanning 5.6 miles, from Highbridge (Yankee Stadium) to Woodlawn (Van Cortlandt Park), Jerome Avenue is marked as the longest street in the borough and, interestingly enough, divides the Bronx streets into ‘East’ and ‘West.’ Through the years, Jerome Avenue has evolved into an attractive and frequently visited venue lined with an assortment of specialty boutiques, shops, acclaimed diners and restaurants.
Community District #4, the Capital District, is made up of the following Bronx neighborhoods: Mt. Eden, Highbridge, West Concourse, East Concourse, and Concourse Village. The neighborhoods encompass East 149th Street on the South, East 174th Street on the North, The Harlem River on the West, and Webster to Park Avenue on the East.
Within the community’s borders is the Yankee Stadium, The Terminal Market Gateway Center (Gateway Plaza), the Borough's Court System, Bronx Museum of the Arts, and a variety of Art Deco buildings along the Grand Concourse Historic District. The community will soon have newly renovated recreational facilities, such as tennis courts, a state-of-the-art track & field, and a new waterfront park. District #4 continues to attract public and private sector economic development opportunities. Recently, the community has experienced a commercial, residential and economic revival.
Bronx borough president *Ruben Diaz Jr.’s promise for change starts with new business. This community is reaching a peak of revitalization and all community hands are working to help ensure its prosperity. A huge breakthrough in boosting Bronx retail development and commerce was the completion of Gateway Plaza, which continues to bring unprecedented growth, community involvement, and job opportunities. To thousands of daily commuters, cultural enthusiasts, and sport fans, this locale is a both culturally-rich and a main New York City thoroughfare.
The area surrounding this listing is host to thriving businesses, private and public schools, and parks. Provided below is a brief list of the area’s demographics and consumer population:
●76% of the population is under 44 years old
●Approximately 3,200 homeowners
●Total consumer population of 242,937
●67% of the population is under 44 years old
●Approximately 200,000 homeowners
●Total consumer population of 2,329,344
*From October 2009 to November 2010 BIC provided 41 loans to Bronx businesses, totaling $24,148,000. There are also seven loans pending, totaling a BIC investment of $5,311,000. So far in 2010 there have been five approved BIEE loans, totaling $480,000; 20 EZ loans totaling $2,302,082.30; and four Springboard microloans totaling $53, 800.
“These are great numbers, especially in a down economy, and it shows just how much businesses are ready to invest in the Bronx. I applaud the BOEDC for its efforts to spread new capital through our economy this year, and I know that we will continue to expand the reach of the BOEDC and encourage more business growth in the years to come,” said Bronx Borough President Ruben Diaz Jr.
Advancing the local economy is an array of businesses with annual sales volumes ranging from $1.6 million to $415 million. Businesses and services representing the top tier are Department stores (excluding leasing departments), Automobile dealers, General merchandise/appliance/furniture, Gasoline stations with convenient stores, Supermarkets, and other Grocery stores. Representing the profitable lower tier are Hardware stores, Outdoor power equipment stores, Musical instrument/supplies stores, Paint/wallpaper stores, and Sewing/Needlework/Piece goods stores.
Within a radius of 10 blocks, this property is flanked by several retailers. Here is a brief list: Capital One Bank, United Auto Toys, K&S Shoes, City Jeans, Cross-town Bicycle, Barber Shop, McDonald’s, Tulnoy Lumber, Dominoes, Taco Bell/KFC, The Hub (shopping/eating center), Frank’s Sports Shop, Rite Aid, Baskin Robbins, and Basics.
With sights set on moving forward, the development of the Bronx Terminal Market (Gateway Plaza) has resulted in the following overall borough benefits and opportunities:
●an accessible market for outlets and other retailers
●Construction of a Waterfront mall with restaurants and shops to attract tourists
●Creation of a harbor district for tourists to travel via ferries and boats
●Genesis of the Borough President's Yankee Neighborhood Vision Plan
●Availability of business opportunities for all Bronx residents
●promotion of the development of a major hotel to compliment the newly developed waterfront area
●new tourism for the area in the form of Bronx tours as well as tours of the immediately adjacent Yankee Stadium complex
●Promotion of Yankee Stadium as a National Landmark