Bronx Courthouse seeks tenant after 40 years

New York /
Apr.April 13, 2014 03:00 PM

Nearly 40 years after shutting its doors in the 1970s, The Empty Bronx Courthouse On East 161st Street and Third Avenue in Melrose is ready to have a tenant again, be it a charter school or a community group, according to owner Henry Weinstein.

There’s just one problem: the building is in such disrepair that no school could afford to complete the necessary renovations.

Nicknamed the Grey Lady for the marble statue of Lady Justice at the center of its facade, the 82,000 square-foot courthouse features 25-foot-tall ceilings, terrazzo floors and spiral staircases.

After spending $5 million on rehabilitating the landmarked nine-story building, Weinstein says he’s still having trouble finding a tenant who can pay the $25 per-square-foot asking rent. Each floor of the structure covers about 12,800 square feet, which would add up to $320,000 a year in rent per floor.

Weinstein bought the building at city auction in 1998. [NYDN] —TRD


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 
Prana pays Related $36M in Bronx multifamily play
Prana pays Related $36M in Bronx multifamily play
448 East 143rd Street in the Bronx (Credit: Google Maps)
Private developer’s NYCHA project in Mott Haven lands $79M in financing
Private developer’s NYCHA project in Mott Haven lands $79M in financing
1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)
Maddd Equities, Joy Construction score $64M for massive Bronx project
Maddd Equities, Joy Construction score $64M for massive Bronx project
A photo illustration of the Arizona Ghost Town Museum in Pearce, Arizona (Getty Images, Facebook/oldpearcepottery)
Night at the museum: Ghost town general store turned-home lists at $1M
Night at the museum: Ghost town general store turned-home lists at $1M
Gregory Russ and Mayor Eric Adams (Getty)
Adams ousts NYCHA chief after arsenic scare
Adams ousts NYCHA chief after arsenic scare
murder-for-hire
Murder-for-hire allegedly involved $45M real estate portfolio
Murder-for-hire allegedly involved $45M real estate portfolio
Davean Holdings’ Sean Lefkovits with 163-167 1st Avenue (Davean Holdings, Google Maps, Getty Images)
Davean Holdings snaps up East Village mixed-use buildings
Davean Holdings snaps up East Village mixed-use buildings
From left: 1 Wythe Ave and 834 Metropolitan Avenue
New resi projects nab biggest outer-borough loans
New resi projects nab biggest outer-borough loans
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...