Staten Island retail center hits market for first time in 45 years

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Adelaide Polsinelli, Vice Chairman of Compass, along with Jake Rosen, hae been hired to market a retail center, at 935 Richmond Avenue, in Mariners Harbor on Staten Island.

The property currently has a strong roster of long-term tenants. IHOP, is the anchor tenant, followed by the popular, Umi Sushi & Hibachi, and Dragon Karate School, a boutique fitness concept with two other locations on Staten Island.

The building contains approximately 10,800 s/f with 41 parking spaces. There is 130 ft. of frontage facing Richmond Avenue and three main bus stops nearby.

JAKE ROSEN

“This is the first time the property has been on the market in 45 years”, noted Rosen.

“We have seen a tremendous amount of growth on Staten Island recently. City Planning Commission just approved 750 apartments along the St. George Waterfront, near the Ferry Depot. The project will also include one million square feet of promenade development. This will be Staten Island’s tallest residential apartment development in the borough’s history.

“It will attract residents who are looking for more spacious residential options and are relocating for the suburban feel and affordability offered in Staten Island,” added Polsinelli. “With the additional commuter option of the midtown ferry, accessibility and transportation just got easier,” Polsinelli concluded.

“The next owner
will benefit from the current renaissance Staten Island is experiencing,”
commented Rosen. “This property will provide a steady stream of income for
years to come with the added value of appreciation, as the area increases in
popularity,” Rosen stated.

With more than 2,000 s/f of unused air rights, there is an opportunity to reposition 935 Richmond Avenue by adding more retailers who will accommodate the increasing needs of the residents migrating to Staten Island.

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