NEW YORK CITY-Bay Ridge Auto Group has reached a deal with building owner TF Cornerstone to build a 300,000-square-foot Toyota showroom on the roof of the FedEx building at 660 12th Ave.
Bay Ridge Auto Group, which also owns Infiniti, Nissan and Acura dealerships, at the end of last year purchased the rear end of the block at 677-681 11th Ave. from TF Cornerstone for $16,601,032, according to the New York Post. Bay Ridge also signed a new zoning agreement that states TF Cornerstone will still have at least 140,000 square feet left to develop, while Bay Ridge will use approximately 300,000 square feet for its new facility.
A spokeswoman for TF Cornerstone confirms the deal at the two-story, 150,000-square-foot building, stating: “TF Cornerstone has a long-term lease with FedEx which is still in effect, and Toyota is planning on constructing a new facility above the FedEx unit.” See story in the New York Post.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.