The Real Deal New York

Blumenfeld pays $36M for Prusik Group’s stake in Bronx mall

Developer is now sole owner of Hunts Point shopping center
By Kathryn Brenzel | July 12, 2016 02:20PM

(inset: Edward Blumenfeld)

The Hunt Point Mall at 925 Hunts Point Avenue (inset: Edward Blumenfeld)

The Blumenfeld Development Group is now the sole owner of the Hunts Point Mall after buying Prusik Group’s stake in the property for $35.6 million.

The developer bought Prusik’s 30 percent interest in 925 Hunts Point Avenue, a 40,000-square-foot shopping center in the Bronx, records filed with the city’s Department of Finance on Tuesday show. Rohan Mehra, principal at Prusik, said that the company, which is an affiliate of Taconic Investments TRData LogoTINY, partnered with Blumenfeld in 2012 after the property was rezoned to promote mixed-use development in the area.

Construction started last year, and tenants just started to move into the mall, which is expected to open later this year. Tenants of complex, dubbed “The Crossing,” include McDonald’s, Red Lobster, Dollar Tree and Bank of America.

Long Island-based Blumenfeld also recently purchased an office-and-retail building in Rego Park for $31.2 million from Vornado Realty Trust. The two-story building has 22 commercial units.