NYPD renews Bronx warehouse lease for narcotics and auto-crime divisions

The department signed a 20-year lease for the 124K sf facility in Wakefield

New York /
Mar.March 25, 2019 09:31 AM

500 Abbot Street in the Bronx and NYPD Police Commissioner James O’Neill (Credit: Google Maps and Getty Images)

The New York City Police Department will hold onto a massive facility in the Bronx used by its narcotics and auto-crime divisions for evidence storage.

The city’s Department of Citywide Administrative Services, which handles deals for the police department, signed a 20-year lease renewal at 500 Abbot Street in Wakefield, according to Commercial Observer.

The contract with landlord Sound Distributing Corp. is reportedly valued at $2.2 million, or about $18 a square foot, for the first four years, before incrementally rising to $3.9 million a year for the final four years of the lease. The narcotics and auto-crime units have occupied the facility since 1999.

The police department has secured a number of long-term leases for large locations in the past year. In August, the agency took 106,000 square feet of office space at 375 Pearl Street in Lower Manhattan, a 32-story building owned by Seattle-based Sabey Data Center Properties and Youngwoo & Associates. And last February, the department extended a 174,000 square feet lease at 4312 Second Avenue in Sunset Park for another 12 years. [CO] — David Jeans 


Related Articles

arrow_forward_ios
277 Fifth Avenue and Shokai Group's Shawn Xianyang Zhang (277 Fifth Avenue/Rafael Viñoly, Shokai Group)
Shokai Group picks up unsold NoMad condos for $81M
Shokai Group picks up unsold NoMad condos for $81M
Traffic was up 47.5 percent from last year, when coronavirus restrictions and concerns were more rampant. (iStock, Getty)
Black Friday retail traffic stuck below pre-pandemic levels
Black Friday retail traffic stuck below pre-pandemic levels
KPF's A. Eugene Kohn and 11 West 42nd Street (Google Maps, KPF)
KPF expands at Tishman Speyer building after sweetener
KPF expands at Tishman Speyer building after sweetener
Skylight Real Estate Partners founding partner Bennat Berger and 340 Old River Road in Edgewater (Google Maps, LinkedIn)
New firm pays $50M for Edgewater multifamily
New firm pays $50M for Edgewater multifamily
Tishman Speyer CEO Rob Speyer, Turner Construction CEO Peter Davoren and The Spiral at 66 Hudson Boulevard (Getty, Turner Construction, Tishman Speyer)
Build it and we will come: Turner Construction moves HQ to Tishman Speyer’s Spiral
Build it and we will come: Turner Construction moves HQ to Tishman Speyer’s Spiral
The upstate land grab behind the solar power boom
The upstate land grab behind the solar power boom
The upstate land grab behind the solar power boom
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Donald Trump (Getty)
Pandemic dashed one-quarter of Trump’s NYC retail tenants
Pandemic dashed one-quarter of Trump’s NYC retail tenants
arrow_forward_ios

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

Loading...