Broadway Plaza Bronx, NY

As exclusive agent, Cushman & Wakefield is pleased to offer for sale Broadway Plaza (the Property), located in the Kingsbridge neighborhood of the Bronx, New York. This 147,254 SF shopping center boasts a nationally recognized roster including TJ Maxx, Aldi, Starbucks, Shake Shack, Best Buy, Five Below and Bob’s Discount Furniture, among others and will be delivered 93% leased to 14 tenants providing steady cash flow via $34MM of contractual net rent (86% of income derived from nationals), with one remaining available unit representing 9,975 SF of upside potential. 

As one of only three retail centers (> 100,000 SF) in the immediate submarket, Broadway Plaza represents an exceptionally rare opportunity to acquire an irreplaceable, institutionally owned and maintained retail center within the NYC Boroughs. The Property and Submarket are characterized by unrivaled fundamentals (population density of 42,000 PSM), and as a result Broadway Plaza has achieved positive leasing momentum and renewed tenant commitment, with 11 out of 14 tenants (nearly 80% of the rent roll) having recently signed new leases / extensions within the past 24 months. 

Located at 171 West 230th Street and 5510 Broadway (in the heart of the Kingsbridge neighborhood), Broadway Plaza sits within an extremely dense submarket with a population of over 42,000 PSM (472x the U.S. average). The Property sits right off of Exit 10 of the Major Deegan Expressway / I-87 (138,995 VPD), and at the intersection of Broadway and West 230th Street (25,819 VPD). Broadway Plaza also has convenient access to several bus and subway lines, including the 231st Street Station one block away which services the 1 Train (6,165 Daily Passengers). The Property also features 137 covered, on-site parking spaces.

Investment Highlights