2244 Westchester Avenue

Lee & Associates NYC is pleased to present exclusively for sale the single tenant triple-net leased asset located at 2244 Westchester Avenue, Bronx, NY 10462 (“the Property”). Situated on a lot of approximately 40,470 square feet, the two-story retail and office asset spans approximately 30,000 square feet and features ample dedicated parking (approx. 0.275 acres) with over 300 feet of frontage on Westchester Avenue, a prominent retail corridor in the Bronx. The Property is entirely leased to Ponce Bank (PDL Community Bancorp) with a lease expiration date of November 30, 2038, with annual 1.75% rent increases. The long term triple-net lease provides investors consistent and predictable cashflow with annual growth and provides an ideal headquarter location and credit tenancy.

U.S. Corporate HQ with retail branch since 1995

Over $1.25 Billion in bank-wide deposits

Large lot size with over 300' of frontage on Westchester Avenue

Annual 1.75% rent increases

Ample parking (approx. 12,000 sq. ft.) to accommodate both retail traffic and office tenancy

Long-term, predictable cashflow with a remaining lease term of over 14 years

Prominent location at the intersection of Westchester Avenue and Castle Hill Avenue, steps from the Castle Hill Avenue subway station