No place is more resilient than The Bronx. After years of online shopping threatened the existence of bricks and mortar retailing, the pandemic was a knockout blow for several national chains with a local presence. However, a recent rebirth has seen large spaces vacated by bankrupt companies get acquired by thriving national retailers building their presence in America’s third most densely populated county. Beyond the malls and power centers, local shopping corridors throughout the borough are enjoying low vacancies and record rents.
If you’re looking to invest in Bronx real estate, there’s a good chance you’re targeting the small multifamily sector. Multifamily properties with 2 to 4 units comprised around half of third quarter Bronx real estate sales and more than a quarter of principal value. The sector is a favorite for budding real estate investors following the age old advice to invest in middle class housing.
At the geographic and logistical center of the New York metropolitan area, The Bronx is a natural location for a thriving industrial asset base. Train lines and a working waterfront brought the industrial revolution to the south Bronx in the early 20th century and defined those neighborhoods. Until recently, the industrial real estate sector has been transitioning into residential development to meet New York City’s persistent housing shortage.