Marcus & Millichap Inc.
06/03/2026 | Press release | Archived content
Marcus & Millichap Brokers Sale of $10.28M Industrial Property in the Bronx
Press Releases
Marcus & Millichap Brokers Sale of $10.28M Industrial Property in the Bronx
June 03, 2026
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NEW YORK, June 3, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 935 Garrison Ave., an industrial property in the Bronx. The asset sold for $10,275,000.
"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-square-foot warehouse on a 40,078-square-foot lot. 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 square feet can be added for food-related retail uses.
The property has direct access to Interstate 278, known as the Bruckner Expressway, and Interstate 95. It is also served by nearby subway lines and bus routes.
"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-square-foot warehouse on a 40,078-square-foot lot. 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 square feet can be added for food-related retail uses.
The property has direct access to Interstate 278, known as the Bruckner Expressway, and Interstate 95. It is also served by nearby subway lines and bus routes.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on June 03, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 09, 2026 at 16:18 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]