News:
Brokerage
Posted: April 16, 2024
Blumenfeld Development Group leases 3,000 s/f to Bronx Joint
Bronx, NY The Blumenfeld Development Group (BDG) negotiated, the borough’s third state authorized, legal cannabis shop. The Bronx Joint has opened for business in The Crossings in Hunts Point.
The 3,000 s/f, fully licensed cannabis shop joins a variety including: McDonalds, Dollar Tree, Dunkin Donuts, and Optimum Mobile.
The new shop, which opened its doors on March 14, has exposed brick and graffiti-styled murals and is supported by the New York Cannabis Social Equity Investment Fund — a statewide initiative implemented during the early days of the legal cannabis industry rollout that gives business priority to people who have been negatively impacted by the over-policing of cannabis.
“We are thrilled to announce our newest tenant which speaks to the vitality of the location and strong dynamics of the asset,” said Brad Blumenfeld, principal at BDG.
The Crossings, a 40,000 s/f retail space in the South Bronx, is located at the corner of Southern Blvd. and Hunts Point Ave. and was BDG’s first endeavor in the borough. Located at a bus and subway terminal, the location lends itself to destination and walkable customers.
BDG was represented by Karnit Mossberg of Royal Properties and the cannabis shop by CBRE’s Stefanie Steinberg, Dean Rosenzewig and Jeremy Scholder.
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
