The New York City Police Department will hold onto a massive facility in the Bronx used by its narcotics and auto-crime divisions for evidence storage.
The city’s Department of Citywide Administrative Services, which handles deals for the police department, signed a 20-year lease renewal at 500 Abbot Street in Wakefield, according to Commercial Observer.
The contract with landlord Sound Distributing Corp. is reportedly valued at $2.2 million, or about $18 a square foot, for the first four years, before incrementally rising to $3.9 million a year for the final four years of the lease. The narcotics and auto-crime units have occupied the facility since 1999.
The police department has secured a number of long-term leases for large locations in the past year. In August, the agency took 106,000 square feet of office space at 375 Pearl Street in Lower Manhattan, a 32-story building owned by Seattle-based Sabey Data Center Properties and Youngwoo & Associates. And last February, the department extended a 174,000 square feet lease at 4312 Second Avenue in Sunset Park for another 12 years. [CO] — David Jeans