JRT Realty Group—the nation’s largest woman-owned commercial real estate services firm—has been designated exclusive leasing agent for the historic BankNote Building at 890 Garrison Ave., in the Hunts Point section of the Bronx.
The JRT Realty Group brokerage team consisting of Greg Smith, Kristen Morgan and Ellen Israel will be representing ownership. Owned by Madison Marquette, the four-building, 410,194-square-foot complex sits on a hill with views of Manhattan.
Presently at 90% percent occupancy, the BankNote Building’s tenant roster includes a variety of government, civic and private-sector tenants, office tenants, non-for-profit organizations and the arts community. Approximately 30,000 to 40,000 square feet remains available, but is in need of buildout, JRT managing director Ellen Israel tells GlobeSt.com.
The firm is open to all tenant types, she adds. “Any tenant that will fit into the space will be welcomed. Many tenants are being priced out of Manhattan—and Brooklyn—and are seeking affordable, rentable space. Media, fashion and biotech firms all are a ‘yes,’ but the landlord isn’t closed off to any type of firm.”
“The outer boroughs are attracting a great deal of attention as ideal settings for affordable office space,” notes JRT president Greg Smith. “The BankNote Building stands out as a superb example of an emerging, urban infill location situated in close proximity to the heart of New York. Madison Marquette is known for utilizing the influence of trends to enhance an asset’s value. They are experts in delivering quality mixed-use, office and retail developments that appeal to top-tier markets.”
He adds that 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. JRT declined to elaborate on the nearby site.
Built in 1909, the six-story BankNote Building was originally home to the American Bank Note Co., a currency printing facility. It was designated a New York City landmark in 2008.
The property, which recently completed an extensive capital improvement program, is located just off the Bruckner Expressway. It is within easy walking distance of the #6 Longwood Ave. and #2/#5 Intervale Ave. subway stations.
The BankNote Building features an abundance of street parking, in addition to ample parking in a fully restored and landscaped on-site lot. It offers newly modernized and finished passenger and freight elevator cabs service to all floors in each building.
Madison Marquette and Perella Weinberg acquired the BankNote Building in September 2015.