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Speculation swirls as to future uses for the site, including an I-Hop and an office building

Mandee site in Throggs Neck sold to developer

Bronx Times
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The property that was the longtime home to Mandee in Throggs Neck has been sold.

Brokers involved in the sale announced that the retail site at 3860 E. Tremont Avenue was sold for $5.1 million to Ashkenazy Acquisition Corporation, a private real estate firm specializing in commercial property.

The sale has stirred up speculation in Throggs Neck that had already been brewing as to what could come next to the location.

According to the brokers, Ariel Property Advisors, the building could be further developed with an additional story added above where Mandee was located for decades.

“This is a rare asset with drive-through accessibility from East Tremont Avenue to the Cross Bronx Expressway, and would be an ideal location for a national retailer seeking a presence on a major corridor in the Bronx,” said Jason M. Gold, vice president of Ariel Property Advisors. “The property’s zoning allows the buyer the flexibility of building another story on top of the existing structure.”

Councilman James Vacca said that there is talk in the Throggs Neck business community that the site could become an International House of Pancakes, but as of press time, this had not been confirmed.

“Merchants have approached me and the word has been out that it is going to be an IHOP,” said Vacca. “I was told that the person who bought it was a developer of IHOP, as well as other stores.”

Throggs Neck Merchants Association president Steve Kaufman was in the process of arranging a meeting with the new owner after hearing of the sale.

He said that the price the property commanded was telling as to its potential future uses.

“They are not going to put something in the property that cannot sustain itself,” he said. “They have to put in someone who has to carry a large rent, which sounds to me like an office building.”

Kaufman does not see businesses like fast-food restaurants or nail salons being able to pay the high lease prices associated with the purchase price and other costs like property taxes.

An upscale office building would be more likely, said Kaufman.

“My hope is that they will put in something compatible with the neighborho­od,” he said. “We will contact them to meet and discuss what needs to be done.”

Community Board 10 had proposed creating a new 45th Precinct and a housing police station at the site.

The idea, covered in a recent letter to Mayor de Blasio, would relocate the police department to a site closer to the highways in a modern building.

Councilman Vacca panned that idea, saying that it was not going to happen.

He did say, however, that he brought up the matter of the state of police stations with top police brass, and that both are aware that conditions and infrastructure need to be improved at many precincts.

He feels that the 45th Precinct needs to be totally renovated.

“I don’t think it is fair that we have law enforcement people working in places that are antiquated and not up to par,” said Vacca.

Reach Reporter Patrick Rocchio at (718) 260–4597. E-mail him at procchio@cnglocal.com. Follow him on Twitter @patrickfrocchio.
Posted 12:00 am, April 4, 2015
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