David Weinman of Fabco Shoes pays $4.5M for retail in Longwood Melrose

David Weinman of Fabco Shoes through the entity 52 E 170th Street Acquisition LLC paid Stuart Albrecht’s 52 East 170th Street Realty Corp. $4.5 million for 46 East 170th Street in Longwood Melrose in the Bronx. The deal closed on April 27, 2020, and was recorded on May 4, 2020. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 5,421 square feet. The parcel(s) have total development potential of 25,108 square feet.
The average sale price per square foot is $179.

David Weinman of Fabco Shoes signed a 15-year lease in late 2019 as tenant that also gave him an exclusive purchase option for 18 months starting with the lease commencement date of July 1, 2019. The location was previously a Payless Shoes store.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link