JLL arranges long-term lease at 521 Bergen Ave. in The Hub business district
JLL announced today it has completed the first lease at 521 Bergen Ave., a newly redeveloped mixed-use office building located within The Hub in the South Bronx neighborhood of New York City.
Non-profit supportive housing and programming provider The Bridge signed a long-term lease to occupy 8,648 square feet across the entire 5th floor of the property as part of its continued expansion of services in The Bronx.
The Bridge offers supportive housing and behavioral health services to vulnerable New Yorkers living with health and substance use concerns. “521 Bergen Ave. will provide us with an ideal environment to offer expanded services to people living in and around the South Bronx seeking to pursue their dreams and live meaningful lives,” said Taso Vassiliou, Chief Administrative Officer of The Bridge.
Originally built in the early 1900s, the commercial property at 521 Bergen Ave. was fully redeveloped as a six-story, 55,000-square-foot office building last year. It features 7,328 square feet of ground floor retail/office space, along with branding opportunities and street-level access to the ground floor and lower levels that can be connected by existing internal stairs.
The property features brand-new building systems, lobby and passenger elevator, and ‘white box’ floors ready for custom-built office installations.
Located one block from the 3rd Ave-149 St. subway station servicing the 2 and 5 subway lines, 521 Bergen Ave. offers direct access into Manhattan and the northern Bronx in a vibrant neighborhood where leading institutions include Lincoln Medical Center, Hostos Community College, multiple government agencies, charter schools, as well as a variety of local and national retailers.
A JLL team that includes Managing Directors William Korchak and Al Gutierrez, Executive Vice President Ellen Herman, Senior Vice President Edward DiTolla and Vice President Henry Warner serves as exclusive leasing agent for the property, which is owned by 521 Bergen REIT LLC and managed by Rubenstein Partners. Samuel Hartstein of Gemstone Realty Group represented The Bridge in its new lease.
“The renovated 521 Bergen Ave.was envisioned as premier office space catering to for-profit and nonprofit groups and we are thrilled to welcome a renowned social services organization such as The Bridge as our first tenant,” said Korchak. “The property provides an exceptional environment for community, governmental, healthcare and educational tenants seeking brand new office space in a location that provides easy transportation for both clients and employees.”
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
