Himmel + Meringoff and Square Mile Capital have acquired 1601 Bronxdale Avenue from Sackman Enterprises for $89 million, according to a press release. The mixed-use industrial property spans 305,000 square feet, and is located in the Van Nest section of the Bronx.
Dig Deeper: The fully-leased building consists of industrial and distribution space, in addition to a connected office and retail component. The property is home to New York Sports Club and serves as a distribution hub for Parts Authority – its office space is occupied by Consolidated Edison.
Heard on the Street: Leslie Himmel and Stephen Meringoff: “With a deep war chest of cash accumulated through several years of successful refinancings, we are planning to grow our exposure to the outer boroughs by investing in properties where we can add value.”