Jamestown has closed on the acquisition of 260 East 161st Street, a mixed-use office building, for $115 million. The property is located in the South Bronx, across the street from the courthouses and a few blocks from Yankee Stadium. Anchor tenants in the property include Starbucks, Chipotle, the Legal Aid Society and Montefiore Medical Center. Holliday Fenoglio Fowler financed the deal through a $63.7 million loan, with a $5.7 million gap mortgage, from Premier Funding Holdco. Acadia Realty Trust sold the building, which spans 276,622 square feet and stands 10 stories tall.
“We have a commitment to invest in all the boroughs, and although we’ve purchased properties in Brooklyn and Queens and Manhattan, this is our first foray into the Bronx,” said Michael Phillips, Jamestown’s president. “We think we can bring our brand of creating community to a building that already has a great office- and retail-tenant mix.”
