1175 Leggett Avenue
Turnbridge closed on 1175 Leggett Avenue in the South Bronx in December 2022. The property is a 50,500 square foot industrial land site, that is currently improved by approximately 40,000 square feet of existing, aging industrial buildings that are in the process of being demolished as part of Turnbridge’s business plan. The property, located in the Hunts Point submarket of the Bronx, is within minutes of I-95, I-278, I-895 and the RFK Bridge to Manhattan and Queens and is within walking distance to numerous public transportation options. The property was acquired through bankruptcy proceedings of a user-seller. As part of seller’s liquidation plan, Turnbridge, through an off-market relationship, negotiated a deal to serve as the “stalking horse bidder,” which afforded Turnbridge significant economic protections through the bankruptcy process in addition to a fast-track to ownership.