Marcus & Millichap Brokers $16.2M Sale of Bronx Retail Building
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 287th New York story tracked on the wire in September 2026. All New York coverage →
- Disclosed retail deal value tracked in September 2026: $5.7B across 97 reported transactions. All Retail coverage →
- 123 stories mentioning Marcus & Millichap on the wire in the past 90 days. Marcus & Millichap coverage →
Computed from Real Estate Trail’s own tracked coverage
NEW YORK CITY — Marcus & Millichap has brokered the $16.2 million sale of a 28,819-square-foot retail building in The Bronx. The building at 2244 Westchester Ave. was constructed in 1970 and has housed the flagship br…
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