News:
Brokerage
Posted: July 17, 2026
Marcus & Millichap brokers sale of $10.28 million industrial property in the Bronx
Bronx, NY Marcus & Millichap negotiated the $10.275 million sale of an industrial property at 935 Garrison Ave.
“This transaction reflects both the depth of demand for NYC industrial outdoor storage and the value of running a disciplined, competitive process,” said Jakub Nowak in Marcus & Millichap’s New York City office. “By keeping local investors, owner-users and institutional capital engaged throughout the process, we achieved strong pricing for the submarket. Investors are paying a premium for open land that can support truck parking, fleet operations and last-mile logistics, uses that are increasingly difficult to accommodate as vacant industrial land in New York City becomes scarcer.”
Nowak, Steven Siegel, and Michael Maldonado of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the buyer.
935 Garrison Ave. includes a 9,200 s/f warehouse on a 40,078 s/f. Located in the Special Hunts Point District, this property sits in a Qualified Opportunity Zone and was delivered vacant, providing redevelopment potential for the new owners. The Special District (HP) rules permit large food retail operations and distribution centers, as well as community facility uses, including libraries, museums and community centers, without the typical size and parking constraints within M1 districts. The site is also FRESH Program-eligible, meaning 20,000 zoning s/f can be added for food-related retail uses.
The property has direct access to I-278, known as the Bruckner Expwy., and I-95. It is also served by nearby subway lines and bus routes.
MORE FROM Brokerage
NAI Long Island achieves 100% occupancy at two Suffolk County office assets
Hauppauge, NY NAI Long Island, an affiliate of NAI Global, has achieved 100% occupancy at two Suffolk County office properties, totaling 50,689 s/f. These exclusive landlord leasing assignments involved 207
Quick Hits
Columns and Thought Leadership
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
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
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)
August Promotion
