Sales activity in the Bronx has picked up in the third quarter with 274 transactions closed year to date consisting of 411 buildings – a 4.1% increase compared to the first three quarters of 2017. The Bronx recorded an aggregate sales consideration of $1.6 billion through the third quarter of 2018, on par with 2017’s year-over-year total.
Cushman & Wakefield is at the forefront of the activity. The firm represented the sellers in four of the top 10 deals in the borough, including the largest sale of the third quarter, Somerset Partners and the Chetrit Group’s $165 million sale of 101 Lincoln Avenue and 2401 3rd Avenue to Brookfield Property Partners. Doug Harmon and Adam Doneger represented the seller in the transaction.
In addition to securing the largest transaction of Q3, the firm represented the sellers in the fourth, fifth, and ninth largest sales in the borough. The three buildings were part of the Pelham Parkway Portfolio, and a Cushman & Wakefield team of Jonathan Squires, Robert Shapiro, Michael Fioravanti, Josh Neustadter and Addison Berniker represented the seller in the transactions. The fourth largest transaction was at 2198 Cruger Avenue, which sold for $22.5 million. Taking the fifth spot on the list was 2180 Bronx Park East which sold for $17.5 million, and the ninth largest transaction was at 2197 Cruger Avenue, which sold for $13 million.