NEW YORK CITY-Bay Ridge Automotive Corp. has inked a 33,000-square-foot lease in the former Federal Laundry Building to open a Ford service center. The lease runs for 42 years. The site, which includes a 55,000-square-foot yard space, is situated at 140 58th Street in Brooklyn. New York City is the owner of the site. As per the deal, the Ford dealer will pay an initial annual rent of approximately $280,000 to the city.
Kalmon Dolgin Affiliates brokered the deal for the tenant. For the full story, go to Crain's New York Business .
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