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Union Crossing
Update
03/29/23
Port Morris Office Building Trades for $44M
An 8-story, commercial mixed-use building, located at 825 East 141st Street in the Bronx's Port Morris neighborhood, has just been sold for $44 million. The structure was purchased by Maddd Equities from the previous owner, Altmark Group, in a deal brokered by JLL.
Originally constructed in 1916, the building received a major renovation in 2018, turning it into a mixed-use, neighborhood center, known as "Union Crossing".
Redeveloped as a joint venture between Madison Realty Capital, Altmark Group, The Bluestone Group, and Galil Management, the 235,000-square-foot facility contains office space, maker studios, local retail shops, and event spaces.
Led by Woods Bagot Architecture, the renovation also resulted in new MEP systems, elevators, and windows. Because the building was previously used as a warehouse (in fact it was once the world’s largest warehouse for food processing and packaging equipment), the structure benefits from expansive floorplates, and large windows, making for a bright and airy environment throughout. The development also offers beautiful views of the Manhattan skyline.
