{"id":279182,"date":"2026-06-26T18:55:10","date_gmt":"2026-06-26T18:55:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/279182\/"},"modified":"2026-06-26T18:55:10","modified_gmt":"2026-06-26T18:55:10","slug":"marcus-millichap-brokers-16-25-million-sale-of-ponce-bank-flagship-headquarters-in-the-bronx-nyrej","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/279182\/","title":{"rendered":"Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx : NYREJ"},"content":{"rendered":"

\"\"<\/p>\n

Bronx, NY Marcus & Millichap<\/a> negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million.<\/p>\n

\u201cThis property drew tremendous interest as it was a true management-free NNN investment with annual increases,\u201d said Steven Siegel of Marcus & Millichap<\/a>\u2019s New York office. \u201cUnlike most other single-tenant properties, this was a large parcel with significant future development potential, in addition to being right by the subway. We created a competitive bidding environment, and in the final stage, three buyers aggressively pushed the price up and the cap down to 6.1%. Ultimately, we selected an all-cash 1031 buyer.\u201d<\/p>\n

Siegel exclusively marketed the property on behalf of the seller, Arc Trust. The buyer, completing a 1031 exchange, was procured by Judson Kauffman of Surmont.<\/p>\n

The property is located at 2244 Westchester Ave. and totals 28,819 s\/f on a .96-acre lot. The two-story building was constructed in 1970 and has 52 on-site parking spaces. The branch holds $220 million in deposits and has served as Ponce Bank\u2019s flagship branch and corporate headquarters for 25 years.<\/p>\n

The property is situated in front of the Castle Hill Ave. station and is near the Bronx Zoo, New York Botanical Garden and Fordham University.<\/p>\n","protected":false},"excerpt":{"rendered":"Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The…\n","protected":false},"author":2,"featured_media":279183,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[128,9,24,63,129,131,130],"class_list":["post-279182","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-bronx","tag-new-york","tag-new-york-city","tag-nyc","tag-the-bronx","tag-the-bronx-headlines","tag-the-bronx-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/279182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=279182"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/279182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/279183"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=279182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=279182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=279182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}