Tri State Commercial®

Former Bronx Borough Courthouse listed for sale for $40 million

Share this post:
divider line

Former Bronx Borough Courthouse listed for sale for $40 million

Tri State Commercial Realty is featured in New York Business Journal article Former Bronx Borough Courthouse listed for sale for $40 million

The former Bronx Borough Courthouse has been put on the market.

Tri-State Commercial Realty’s Harry Bouzaglou and Shlomi Bagdadi are the exclusive listing agents for the property. Bouzaglou said the listing price was $40 million.

The historic 121,000-square-foot building is located at 878 Brook Ave. in Melrose.

Bouzaglou said the 9-story building was purchased by its current ownership — which he did not identify — at auction in the 1990s for around $350,000.

The building was closed by the city in 1977. It remained empty until nonprofit group No Longer Empty hosted an art exhibit there in 2015.

Charter school Success Academy signed a 20-year lease for the site in 2017, but the school never moved in in advance of the pandemic.

“There was a lot of money put in to outfit it for the charter school,” Bouzaglou said. “They put at least $10 million into it.”

Now, ownership is again looking for a tenant to occupy the building.

The facility has two elevators, two staircases, a grand lobby, new roughing for high-end plumbing, mechanical and electrical throughout — and a statue of Lady Justice situated directly above its entrance.

The property is listed on the National Register of Historic Places, which means that anybody who buys it benefits from federal and state tax credits.

Bouzaglou said ownership is considering charter schools, medical facilities, government agencies and museums for the space.

“Because of the zoning, pretty much every single use is permitted here,” he said.

The building was built between 1905 and 1914.

To read more, click here: LINK

Call Now
Skip to content