Adelaide Polsinelli, Vice Chairman of Compass, a publically traded, technology-driven real estate platform, along with Jake Rosen, also of Compass, have been hired to market a prominent retail center, at 935 Richmond Avenue, located within the densely populated neighborhood of Mariners Harbor on Staten Island.
The property currently has a strong roster of long-term tenants. IHOP, is the Anchor Tenant, followed by the popular, Umi Sushi & Hibachi, and Dragon Karate School, a boutique fitness concept with two other locations on Staten Island.
The building contains approximately 10,800 SF with 41 parking spaces. There are 130 feet of frontage facing Richmond Avenue. 935 Richmond Avenue is centrally located to three main bus stops along Richmond Avenue and Forest Avenue.
“This is the first time the property has been on the market in 45 years”, noted Jake Rosen.
“We have seen a tremendous amount of growth on Staten Island recently. City Planning Commission just approved 750 apartments along the St. George Waterfront, near the Ferry Depot. The project will also include one million square feet of promenade development. This will be Staten Island’s tallest residential apartment development in the borough’s history.
“It will attract residents who are looking for more spacious residential options and are relocating for the suburban feel and affordability offered in Staten Island,” added Polsinelli. “With the additional commuter option of the midtown ferry, accessibility and transportation just got easier, “Polsinelli concluded.
“The next owner will benefit from the current renaissance Staten Island is experiencing,” commented Rosen. “This property will provide a steady stream of income for years to come with the added value of appreciation, as the area increases in popularity,” Rosen stated.
With more than 2,000 square feet of unused air rights, there is an opportunity to reposition935 Richmond Avenue by adding more up and coming retailers who will accommodate the increasing needs of the residents migrating to Staten Island. This renewed sense of community that is building will attract exciting retail concepts that will make Staten Island an enticing place to live, work and invest in. The culture here is evolving quickly and Staten Island will be in demand,” concluded Rosen.
About Polsinelli:
With over 30 years of experience, Polsinelli has sold over 1,500 properties, valued at over $40 billion in every asset class including multifamily, retail, office, development, note sales, air rights, partnership interests, unsold shares and retail condos. She has sold over $1.5 billion in the last few years, spanning NYC, Miami, Boston, Chicago and most of the northeast corridor. Prior to joining Compass, she was a Principal at the now defunct, Eastern Consolidated.
About Rosen:
Rosen joined Polsinelli in March 2021. He focuses on multifamily, development, retail leasing, retail condos, office and industrial opportunities across the New York Metro Area.
About Compass:
A technology-driven real estate platform dedicated to creating a seamless and intelligent buying, selling, and leasing experience. Combining the country’s top agents, proprietary market insights, and integrated mobile and web technologies, Compass is developing the future of real estate decision-making. With $1 Billion in revenue, and $35 Billion in sales volume, Compass has 238 offices with locations in 122 markets, including New York City, Washington DC, Boston, Miami, Los Angeles, Santa Barbara, the Hamptons, and Aspen. New funding fuels international expansion, enhanced technology developments for agents and consumers. Compass was founded by Ori Allon, who sold two previous companies to Google and Twitter, and business partner Robert Reffkin, a former White House Fellow and Chief of Staff to Goldman Sachs’ President & COO.
