Ben Ashkenazy’s Ashkenazy Acquisition Corporation has selected the Winick Realty Group of New Jersey to market its new retail facility located at 2151 Lemoine Avenue in Fort Lee. The firm has also sold a Bronx commercial building located at 949 Southern Boulevard for $43.5 million, according to The Real Deal.
Currently home to a branch of the now bankrupt Radio Shack chain and several other retailers, 949 Southern Boulevard is a drab, Brown, 4 story building with 90, 000 square feet of space. The upper floors offer office spaces which are currently home to medical offices and a non-profit organization. The building has 150 feet of retail frontage with 30, 000 square feet of retail space.
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Ashkenazy bought the property in 2013 for $23 million. That amounts to an almost 100% profit in less than 2 years. That’s an amazing feat even for New York area real estate.
Meanwhile the Fort Lee NJ Ashkenazy property, 2151 Lemoine Avenue, includes spaces of 1, 800 square feet or up to 8, 300 square feet in the Washington Bridge Plaza shopping center.
Winick Realty Group NJ Senior Vice President and Co-Founder Tyler Bennett told the NJ.Com blog, “I am delighted to be working with Ashkenazy for a second time to market one of their prime New Jersey Properties. Washington Bridge Plaza is one of the few shopping centers in the Fort Lee market with on-site parking, as well as accessibility for both pedestrian and vehicular traffic, and the center has had a long history of housing very successful retailers.”
586, 000 local residents and 123, 000 employees of local offices and businesses are all within 3 miles of the shopping area. More than 17, 000 vehicles are said to pass it every day.