Bronx Courthouse Looking For Right Anchor Tenant
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A developer is working to redevelop a Bronx courthouse as a mixed-use complex while still maintaining its turn-of-the-century charm. NY1's Shazia Khan filed the following report. For developer Henry Weinstein, the old Bronx courthouse on 161 Street and Third Avenue, was love at first sight.
“Just look at it! It's a wonderful building,” exclaimed developer Henry Weinstein.
The lofty temple of justice served the borough until it was abandoned in the late 1970s and left for ruin. Inside, remnants like cracked marble stairs and broken stained glass offer a window into the courthouse's glory days.
The long-time neighborhood advocacy group, Nos Quedamos, instrumental in the renaissance of the Melrose section of the South Bronx, fought to acquire the now-landmarked property, but the Giuliani administration put it up for sale.
In 1998, Weinstein purchased the courthouse for $300,000 in a real estate auction.
“We've spent probably more than a million dollars doing demolition, plans, and putting in gas, electric, water, and all the necessary utilities,” he said.
A wide range of tenants, from fitness clubs to banks to food vendors, has expressed interest in the more than 80,000 square foot property, spread out across six levels. Weinstein says there have been many false starts; most recently, plans for a charter school fell through. So the wait for the right anchor tenant continues.
“We could have turned it into self-storage 10 years ago when we first purchased the building, but we didn't feel that it was an appropriate use for such a beautiful structure,” Weinstein said.
Bringing a turn-of-the-century building into the new millennium has its fair share of challenges, especially when dealing with a building of the courthouse’s size.
With its landmark status, the exterior of the courthouse must remain intact; however, there are no construction restrictions inside. Weinstein says he is offering build-to-suit or lease as-is at or below market prices.
And with the near completion of the adjacent Boricua village, which includes a college campus, affordable housing and retail space, Weinstein hopes it will increases interest in his property.
“We are very anxious to see something happen here,” Weinstein said.