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Where to Invest? Consider the Bronx

REBNY’s Investment Sales Report shows while New York City experienced a drop in investment sales activities, the Bronx recorded gains in the second half of 2017.

Photo of John Banks REBNY president John H. Banks

NEW YORK CITY—For the second half of 2017, the Real Estate Board of New York’s Investment Sales Report found the total value of transactions completed reached $17 billion. This was 37% down from $26.8 billion recorded for the second half of 2016. Citywide investment sales fell 19% year-over-year, dropping from 2,880 transactions to 2,334 transactions for the second half of 2017.

Unlike the statistics for across all the boroughs, the Bronx had something to cheer about with gains in investor spending. This was up from $1.4 billion in the second half of 2016 to $1.5 billion in the second half of 2017. However, this increase was in part due to the $115 million sale of the Concourse Village office building at 260 East 161st St. and the $88 million sale of the Frances Schervier Home and Hospital at 720 West 231st St.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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