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
Investment Property Realty Group closes $3 million sale of 4,350 s/f mixed-use building at 709 Fulton St.
Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 709 Fulton St., a mixed-use building located in the Fort Greene section of the city, for $3 million.
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi
Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
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
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron
When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
.gif)
August Promotion
