JRT Realty Group, C&W, Norman Bobrow & Co., Arrange 26,000+ SF at Historic BankNote Building,Bronx


JRT Realty Group – the nation’s largest woman-owned commercial real estate services firm – has arranged a total of 26,064 square feet for Lightbox-NY, LLC and America Works of New York, Inc. on behalf of Madison Marquette’s BankNote Building at 890 Garrison Avenue in the Hunts Point section of the Bronx.

JRT Realty Group brokerage team led by President Greg Smith and Executive Managing Director Ellen Israel represented the landlord, Lafayette Avenue LLC and owner, Madison Marquette in the transaction.

“We’re excited to continue a strong relationship with Lightbox while welcoming America Works to our landmark building,” said Joe Anthony, Director, Asset Management, of Madison Marquette. “Our Class A office property has attracted various types of creative and institutional businesses alike. In a market where development is at a rapid growth, accommodating our occupants’ multitude of needs is a chief priority. We look forward to providing a unique and productive work space for both incoming and renewing tenants.”

“The outer boroughs are attracting a great deal of attention as ideal areas for affordable office space,” said President Greg Smith of JRT Realty Group. “The BankNote Building stands out as a superb example of an emerging, urban location situated in close proximity to the heart of New York. Madison Marquette is known for channeling the influence of trends to enhance an asset’s value. They are experts in delivering premier mixed-use, office and retail developments that appeal to top-tier markets.”

Lightbox-NY, LLC – a daylight film/photography studio and event space – renewed 11,500 square feet on the third floor of the Barretto Wing. The space boasts high ceilings, skylights and oversized windows, and caters to filmmakers from all over the world.

Stuart Romanoff, Amy Fox and Franklin Speyer of Cushman & Wakefield represented the tenant, Lightbox-NY, LLC in the transaction.

America Works of New York, Inc. – a job networking company – took a total of 14,564 square feet of two stories; 10,710 of the fifth floor and 3,854 of the sixth floor. The BankNote Building will serve to accommodate America Works’ latest HRA contract in providing job assessments and some training.

Brokerage team Alexander Lubinand of Norman Bobrow & Co., Inc. represented the tenant, America Works of New York, Inc. in the transaction.

Presently at 92% percent occupancy, the BankNote Building’s tenant roster includes a variety of government, civic and private-sector, office, not-for-profit and arts organizations.

The four-building complex totals 405,000 square feet with a 178,800-square-foot lot which includes private parking. Exposed brick walls, large vaulted windows, concrete floors, light-infused spaces and soaring, open ceilings up to 21’ lend a historic feel to the interior spaces that can serve a wide range of tenants. The property recently completed an extensive capital improvement program, offers newly modernized and finished passenger and freight elevator cabs service to all floors in each building.

A site now fronting the property’s outdoor plaza is available for construction of a stand-alone building with separate parking that could provide food and retail services to the expanding BankNote community.

Situated on a hill that offers clear views of Manhattan, the property is conveniently located just off the Bruckner Expressway. The building is within easy walking distance to the 6 Longwood Avenue and 2/5 Intervale Avenue subway stations.

Built in 1909, the six-story BankNote Building was originally home to the American Bank Note Company, a currency printing facility. It was designated a New York City landmark in 2008.

Madison Marquette and Perella Weinberg acquired the BankNote Building in September 2015. Founded in 1992, Madison Marquette is a private, real estate investment management and operating company providing a comprehensive set of services to institutional investors in retail, mixed-use and office assets across the United States.

About JRT Realty Group

JRT Realty Group Inc., the nation’s largest certified woman-owned commercial real estate services firm, provides a full-range of customized services, including strategic planning, corporate real estate portfolio management, tenant representation, leasing and property marketing, financing, and investment sales.

The company has an industry-unique strategic alliance with Cushman & Wakefield to assist clients in achieving their supplier diversity goals by expanding their vendor base to include Minority- and Woman-Owned Business Enterprises.

JRT Realty has a proven record of success in helping Fortune 500 and institutional clients, as well as federal, state and city governments, achieve aggressive, multi-million dollar diversity spending goals through innovative business solutions.

For more information, visit Jrtrealty.com, or follow the company on TwitterandLinkedin.

About Madison Marquette

Madison Marquette is a private, fully integrated real estate investment management and operating company providing a comprehensive set of services to institutional investors in retail, mixed-use and office assets in top-tier markets across the United States. Since the firm’s inception in 1992, Madison Marquette has worked with a premiere group of partners and clients to define and execute accretive plans to successfully achieve investment objectives. Madison Marquette has been recognized as a thought-leader and innovator in the real estate industry – with a keen ability to identify trends impacting real estate investments and to strategically incorporate these trends into the firm’s investment, planning, development, asset management, leasing and operating strategies.

Today, Madison Marquette is working collaboratively with its clients and partners to leverage current trends to maximize values in retail, mixed-use and office assets in and around dynamic urban gateway markets including New York, San Francisco, Seattle, Washington DC, Los Angeles and South Florida.

A member of the Capital Guidance group of companies, Madison Marquette delivers a full range of real estate services and project execution from its offices in New York, Washington DC, San Francisco, Los Angeles, Seattle, Fort Lauderdale, Charlotte and Philadelphia.

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