{"id":36978,"date":"2020-01-22T10:48:25","date_gmt":"2020-01-22T08:48:25","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=36978"},"modified":"2020-01-22T10:48:34","modified_gmt":"2020-01-22T08:48:34","slug":"jll-sells-bruckner-building-in-the-bronx-for-65-million","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/22\/jll-sells-bruckner-building-in-the-bronx-for-65-million\/","title":{"rendered":"JLL Sells Bruckner Building in the Bronx for $65 Million"},"content":{"rendered":"\n<p>ZG Capital Partners acquired the commercial loft building in\nthe Bronx for $65 million from a partnership between Savanna and Hornig Capital\nPartners. The 188,000-square-foot waterfront building is located at 2417 Third\nAvenue in Mott Haven. JLL represented the seller.<\/p>\n\n\n\n<p>The eight-story <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/41754\/2417-3-Ave-Bronx-NY-10451\/\">Bruckner\nBuilding<\/a> was built in 1928. It underwent a comprehensive renovation in 2016,\nwhich included a full lobby and entrance redesign, a fa\u00e7ade update and replacement\nof all windows in the building, as well as new elevators, a new roof, electric\ninfrastructure, and common corridor and lounge upgrades. The building features\nfloor-to-ceiling loft windows that offer excellent light on all floors and\nsweeping views of the Harlem River and Manhattan.<\/p>\n\n\n\n<p>The JLL Capital Markets team overseeing the sale of The\nBruckner Building include Chairman of New York Investment Sales, Bob Knakal;\nVice Chairman, Stephen Palmese; Managing Director, Jonathan Hageman; Vice\nPresident, George D\u2019Ambrosio; and Associate Frank Dalicandro.<\/p>\n\n\n\n<p>Additionally, the Bruckner Building is strategically located\nwithin easy walking distance from two subway stations\u2014namely, the Third Avenue\nand 138th Street station and the ExpressTrain service at 138th Street Grand\nConcourse station. The property also provides convenient access to Willis\nAvenue Bridge, Harlem Drive, Major Deegan Expressway and Third Avenue Bridge.<\/p>\n\n\n\n<p><em>\u201cThe Bruckner Building\u2019s Mott Haven waterfront location\npositions the asset for very strong appreciation,\u201d<\/em> Knakal said. <em>\u201cThe Mott Haven district is the Bronx\u2019s most\nactive development zone, with major projects coming to the property\u2019s doorstep.\nThis robust activity will change the neighborhood dramatically.\u201d<\/em><\/p>\n\n\n\n<p>The property will benefit from a 25-year industrial and commercial\nabatement program that is set to begin in 2020 and will significantly reduce\ntaxes payable on the property through its expiration in 2045.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZG Capital Partners acquired the commercial loft building in the Bronx for $65 million from a partnership between Savanna and Hornig Capital Partners. The 188,000-square-foot waterfront building is located at 2417 Third Avenue in Mott Haven. JLL represented the seller. The eight-story Bruckner Building was built in 1928. It underwent a comprehensive renovation in 2016,&hellip;<\/p>\n","protected":false},"author":59,"featured_media":36980,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[389,376,328,701,2518],"tags":[],"class_list":["post-36978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bronx-real-estate","category-new-york-commercial-real-estate","category-new-york-real-estate","category-news-releases","category-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JLL Sells Bruckner Building in the Bronx for $65 Million - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"ZG Capital Partners acquired the commercial loft building in the Bronx for $65 million from a partnership between Savanna and Hornig Capital Partners.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/22\/jll-sells-bruckner-building-in-the-bronx-for-65-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Sells Bruckner Building in the Bronx for $65 Million\" \/>\n<meta property=\"og:description\" content=\"ZG Capital Partners acquired the commercial loft building in the Bronx for $65 million from a partnership between Savanna and Hornig Capital Partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/22\/jll-sells-bruckner-building-in-the-bronx-for-65-million\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-22T08:48:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-22T08:48:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/01\/the-Bronx-skyline-NYC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Robert Demeter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JLL Sells Bruckner Building in the Bronx for $65 Million - 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