1665 HOE AVENUE, BRONX, NY 10460
CONFIDENTIAL OFFERING MEMORANDUM
SMILOW CLUBHOUSE
2
Cushman & Wakefield
EXECUTIVE SUMMARY
Cushman & Wakefield has been retained on an exclusive basis to collect proposals for the Joel E. Smilow Clubhouse, located at 1665 Hoe Avenue in the Crotona neighborhood of the Bronx (the “Property”). The approximately 37,000 SF property sits on the southeast corner of Hoe Avenue and East 173rd Street and boasts 200’ of frontage on Hoe Avenue along with 100’ of frontage on East 173rd Street.
The Property is currently utilized as a boys & girls community center with a full-sized basketball court and pool, along with community, classroom, and tech spaces throughout, providing neighborhood youth with after-school and summer enrichment programs. The Property will be delivered vacant, allowing for immediate occupancy, or future conversion and redevelopment of the space. Situated on 20,000 SF of R7-1 land, the Property has a 3.44 Residential FAR allowing for up to 68,800 zoning square feet of residential space, and a 4.80 Community Facility FAR allowing for up to 96,000 zoning square feet of community facility space.
In connection with a 15-year Funding Agreement effective June 16, 2015 between the owner and the City of New York, the Property is subject to a series of interim use restrictions during the term of the Funding Agreement which is set to expire in 2030. The covenant defines the Property’s use as “a community and recreation center that is dedicated to providing the children of the City with educational and recreational programs in a safe and nurturing environment, and which is operated for the benefit of one or more notfor-profit entities.”
The building is located right near the intersection of I-95, the Bronx River Parkway, and the Sheridan and Bruckner Expressways, providing access to many arteries of New York City and the tri-state area. Located just steps from the 174th Street subway station serviced by the 2 and 5 train, the property is accessible to and from midtown Manhattan in under 35 minutes.
The Offering represents an outstanding opportunity to invest in a blank slate repositioning or redevelopment project in the Crotona neighborhood of the Bronx. For non-profit users, the Property offers an opportunity to operate a school, cultural program, or neighborhood community center with enriching after school programs.
All inquiries should be directed to Cushman & Wakefield.
SMILOW Clubhouse 3
Rental Income Address: 1665 Hoe Ave Fairmont - Claremont Village Block & Lot: 2983-42 Lot Dimensions: 200' x 100' Lot SF: 20,000 SF (approx.) Building Information Building Dimensions: 186' x 96' Irregular Stories: 3 Total Gross SF: 36,900 SF (approx.) Zoning Information Zoning: R7-1 Residential FAR (As-of-Right): 3.44 Community Facility FAR: 4.80 Total Zoning SF (As-of-Right): 68,800 SF (approx.) Less Existing Structure: 36,900 SF (approx.) Available Air Rights (As-of-Right): 31,900 SF (approx.) NYC FINANCIAL INFORMATION (24/25) Total Assessment: $5,773,410 Taxes Before Exemptions: $611,520 Exemption $611,520 Annual Property Tax: $0 Tax Rate: 10.5920% Property Tax Rate for 2024 Tax Class: 4 HOE AVE VYSE AVE E173ST E174ST SOUTHERN BLVD BOSTONRD Block 2983 Lot 42 4 Cushman & Wakefield
PROPERTY INFORMATION
SMILOW CLUBHOUSE
BRONX ¨ § ¦ 278 ¨ § ¦ 278 ¨ § ¦ 278 ¨ § ¦ 295 Bruckner Blvd Cross Bronx Expy w k P r e v i R x n o r B Harlem River Dr Grand Concourse WestchesterAve White Plains Rd BostonRd E Tremont Ave Castle Hill Ave Southern E 161st St E169thSt W Farms Rd 145thSt 116thSt Bronxdale Ave E 167th St St Exterior St Waters Pl ClaremontPkwy Whitlock Ave Metcalf Ave Story Ave Sound View Ave W178thSt E177thSt Morrison Ave E 168th St E 153rd St W 170th St SilverSt WestchesterAve Grand Concourse BrucknerBlvd 3rd Ave Webster Ave Ave Westchester Ave Bruckner Blvd Jerome Ave Bruckner Blvd Grand Concourse Walton Ave Park Ave Zerega Ave Sedgwick Ave Washington Ave Clay Ave E180thSt 127th St Watson Ave Gerard Ave Morris Ave Tinton Ave River Ave 11th Ave Union Ave Story Ave Prospect Ave Nelson Ave Van Nest Ave E179thSt Edison Ave Fulton Ave Lafayette Ave Hoe Ave Morris Park Ave E181stSt Hone Ave Ogden Ave Vyse Ave Bryant Ave E 165th St 9th Ave Mayflower Ave Ellis Ave Teller Ave Haight Ave Grant Ave Thieriot Ave Brush Ave Crosby Ave Bogart Ave Bathgate Ave E 172nd St E176thSt Rhinelander Ave 144th St Gleason Ave Hering Ave Colden Ave Newbold Ave Elder Ave t S y l l e K Purdy St Olmstead Ave E 174th St E178thSt 117th St Croes Ave Beach Ave Manor Ave Undercli Ave Turnbull Ave Rosedale Ave Jennings St Homer Ave Anthony Ave Balcom Ave Pugsley Ave E169thSt Hazen St E 170th St Revere 115th Daly Ave Ward Ave Quimby Ave Home St Leland Ave E 163rd St BarkleyAve Mulford Ave Macombs Rd E175thSt Hermany Ave E 173rd St St E 166th St E182ndSt W176thSt Elton Ave E 158th St Waterbury Ave E 161st St Jesup Ave Chatterton Ave E 153rd St BuhreAve St Anderson Ave Jarvis Ave College Pl Commerce Ave SackettAve Monroe Ave Jungle World Rd 147thSt Blondell Ave Powell Ave Evergreen Ave Haviland Ave CrotonaParkN StPetersAve Edgewater Rd Concourse Vlg W Shakespeare Ave Vyse Ave Leland Ave Prospect Park Ave 5th Ave E 176th St Paulding Ave Bathgate Ave LafayetteAve Home St Story Ave E 172nd St 4 5 2 2 B 1 3 5 6 6 4
2 Minute Walk 5 2 SMILOW Clubhouse 5
ENTRANCE ENTRANCE & RECREATIONAL SPACE
GYMNASIUM
DANCE
STUDIO
6
Cushman & Wakefield
HALLWAY
REC SPACE SMILOW Clubhouse 7
POOL
CLASSROOM
STUDIO
LOCKER ROOM
8
MUSIC STUDIO
Cushman & Wakefield
BATHROOM LOCKER ROOM
CLASSROOM
SMILOW Clubhouse 9
COMPUTER ROOM
HALLWAY STAIRWAY
10
ART STUDIO
AUDITORIUM
Cushman
& Wakefield
RESTRICTIVE COVENANT USE RESTRICTIONS
SMILOW Clubhouse 11
FLOORPLANS
ART ROOM 003 760 sq ft Net Area: DANCE ROOM 007 547 sq ft Net Area: UTILITY/JANITOR 008 682 sq ft Net Area: BOYS RR 009 89 sq ft Net Area: GIRLS RR 010 89 sq ft Net Area: CORRIDOR 012 710 sq ft Net Area: STORAGE 013 26 sq ft Net Area: STORAGE 005 79 sq ft Net Area: GAMES ROOM 001 1609 sq ft Net Area: EDUCATION CENTER 006 1125 sq ft Net Area: ACADEMY STORE 004 199 sq ft Net Area: STAIR A STAIR B CAFETERIA 109 441 sq ft Net Area: TEEN ROOM 111 984 sq ft Net Area: CORRIDOR 112 313 sq ft Net Area: GAMES ROOM 102 2922 sq ft Net Area: MEETING ROOM 105 367 sq ft Net Area: ACTIVITY ROOM 103 484 sq ft Net Area: PROGRAM DIR OFFICE 116 179 sq ft Net Area: DIRECTOR 119 145 sq ft Net Area: ADMIN OFFICE 118 225 sq ft Net Area: GIRLS RR 113 162 sq ft Net Area: BOYS RR 114 127 sq ft Net Area: TECH CENTER 110 441 sq ft Net Area: STAFF LOUNGE 117 271 sq ft Net Area: KITCHEN 107 209 sq ft Net Area: STORAGE 108 131 sq ft Net Area: STORAGE 106 61 sq ft Net Area: MAIN LOBBY 101 568 sq ft Net Area: COAT ROOM 121 161 Net Area: MAINTENANCE 122 Net Area: STAFF TOILET 120 106 Net Area: STORAGE 104 47 sq ft Net Area: VESTIBULE 115 44 sq ft Net Area: STAIR A STAIR C STAIR B MAIN STAIR
FLOOR 1
BASEMENT
12 Cushman & Wakefield
FLOOR 2
POOL UTILITIES 123 875 sq ft Net Area: ROOM 161 sq ft MAINTENANCE 84 sq ft GARAGE 124 922 sq ft Net Area: STORAGE 125 424 sq ft Net Area: BOILER ROOM 126 389 sq ft Net Area: TOILET sq ft STAIR D POOL TANK A 101 02.17.15 1/16" = 1'-0" MAIN FLOOR PLAN SMILOW CLUBHOUSE TITLE: SCALE: DATE: REV DATES: WORKING FLOOR PLANS: NOT FOR CONSTRUCTION AQUA OFFICE 210 75 sq ft Net Area: LOCKER ROOM BOYS 207 817 sq ft Net Area: GIRLS LOCKER ROOM 208 740 sq ft Net Area: AQUA STORAGE 211 79 sq ft Net Area: SWIMMING POOL 209 5081 sq ft Net Area: LOBBY 201 648 sq ft Net Area: GYM 202 4935 sq ft Net Area: OFFICE 206 73 sq ft Net Area: FITNESS ROOM 205 1042 sq ft Net Area: STORAGE 204 263 sq ft Net Area: DANCE STUDIO 203 675 sq ft Net Area: MEZZ VIEWING AREA ABOVE STAIR C STAIR B STAIR D MAIN STAIR A 102 02.17.15 1/16" = 1'-0" UPPER LEVEL PLAN SMILOW CLUBHOUSE TITLE: SCALE: DATE: REV DATES: WORKING FLOOR PLANS: NOT FOR CONSTRUCTION
SMILOW Clubhouse 13
Harlem Amsterdam Ave Henry Hudson Pkwy Grand Concourse Ogden Ave E 169th E 166th W153rdSt
EAST BRONX ACADEMY FOR THE FUTURE 2 TRAIN 5 TRAIN SMILOW CLUBHOUSE P186X WALTER J. DAMROSCH SCHOOL EXPLORATIONS ACADEMY HIGH SCHOOL COMMUNITY SCHOOL 61/INTERMEDIATE SCHOOL 190 FAIRMOUNT NEIGHBORHOOD SCHOOL 14 Cushman & Wakefield
MANHATTAN
LOCATION OVERVIEW
The Boys and Girls Club in the Bronx is a beacon of hope and opportunity for youth in the community. Nestled within the vibrant borough of the Bronx, this club serves as a safe haven where children and teenagers can gather to learn, grow, and thrive. With a wide range of programs and activities, including academic support, sports leagues, arts and crafts, and leadership development, the club offers something for every young person. Dedicated staff and volunteers work tirelessly to provide mentorship, guidance, and a positive environment where children can build confidence, develop skills, and forge lifelong friendships. Beyond its walls, the Boys and Girls Club in the Bronx plays an integral role in fostering a sense of community pride and empowerment, helping to shape the next generation of leaders and changemakers in the Bronx and beyond.
BostonRd Farms Rd ClaremontPkwy E177thSt E 168th St Grand Concourse 3rd Ave Webster Ave Park Ave Washington Ave Clay Ave Morris Ave E179thSt Fulton Ave Hoe Ave Vyse Ave E 172nd E176thSt E 174th St E178thSt Jennings St Anthony Ave 169th St E 170th St Daly Ave E175thSt E 173rd St Monroe Ave Jungle World Rd CrotonaParkN Vyse Ave E 176th St Bathgate Ave E 172nd St 5 2
EXPLORATION ACADEMY HIGH SCHOOL FAIRMOUNT NEIGHBORHOOD SCHOOL COMMUNITY SCHOOL 61/INTERMEDIATE SCHOOL 190 SMILOW CLUBHOUSE EAST BRONX ACADEMY FOR THE FUTURE 5 TRAIN 2 TRAIN P186X WALTER J. DAMROSCH SCHOOL SMILOW Clubhouse 15
JONATHAN SQUIRES Managing Director +1 212 660 7775 jonathan.squires@cushwake.com DAVID LEBENSTEIN Executive Managing Director +1 212 318 9737 david.lebenstein@cushwake.com JOSH NEUSTADTER Director +1 212 660 7739 josh.neustadter@cushwake.com AUSTIN WEINER Associate +1 212 660 7786 austin.weiner@cushwake.com Cushman & Wakefield Copyright 2024. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. CONTACTS