Jamestown has purchased a major South Bronx office-and-retail building for about $115 million, which they are funding with a $63.7 million loan, according to property records.
The company, which also owns Chelsea Market and Industry City, has acquired 260 East 161st Street, located in the heart of The South Bronx Across The Street from the courthouses and a few blocks away from Yankee Stadium. Tenants include Starbucks, Chipotle, the Legal Aid Society and Montefiore Medical Center.
The loan comes from Premier Funding Holdco and includes a $5.7 million gap mortgage.
Acadia Realty Trust sold the building, which spans 276,622 square feet and stands 10 stories tall.