Vacant industrial dirt in Hunts Point is officially big money. This spring, a one acre industrial parcel at 935 Garrison Avenue sold for about $10.28 million, underscoring just how scarce open industrial land has become in the South Bronx. The site consists of a roughly 9,200 square foot warehouse on a 40,078 square foot lot and was delivered vacant to the buyer. Brokers and investors said competitive interest centered on the property's highway access and its potential for food related zoning uses.
Deal Details From the Broker
According to Marcus & Millichap, the firm negotiated the $10,275,000 sale, with Jakub Nowak, Steven Siegel and Michael Maldonado exclusively marketing the property and securing the buyer. The brokerage noted that the parcel is in the Special Hunts Point District and sits in a Qualified Opportunity Zone. It is also FRESH Program eligible for up to 20,000 zoning square feet of food related retail uses. The release pointed to direct access to Interstate 278 (the Bruckner Expressway), Interstate 95 and nearby subway and bus service as key selling points for the site.
Buyer Identified And Next Moves
Realterm confirmed the acquisition on May 12, 2026, describing the Hunts Point asset as an industrial outdoor storage maintenance facility and saying it plans targeted capital improvements to prepare the property for tenants. Industry coverage identified the seller as Metro PH 935 Garrison, an LLC tied to local industrial investor Barry Haskell, and reported that this marks Realterm's fifth Bronx purchase, according to Commercial Observer. Realterm did not disclose the sale price in its announcement, although public records list the transfer amount.
Why Investors Are Paying Up
Demand for industrial outdoor storage, fleet parking and last mile logistics has pushed buyers toward almost any open industrial land they can find in New York City. "This transaction reflects both the depth of demand for NYC industrial outdoor storage and the value of running a disciplined, competitive process," Nowak said in the Marcus & Millichap release. Market coverage has pointed to tight supply and redevelopment upside as major forces behind recent Bronx trades, including this one, according to ConnectCRE.
What's Next For 935 Garrison
Public records show the sale recorded on May 8, 2026, at $10,275,000, and the property is still vacant as the buyer and brokers weigh leasing and potential redevelopment strategies, per PropertyShark. New York Real Estate Journal also reported on the brokered deal and the site's FRESH eligibility and Special District zoning, including additional detail on the marketing process and broker commentary. With FRESH eligibility and Special Hunts Point District rules that allow food retail and distribution uses without the typical M1 size and parking constraints, the site could support a range of supply chain or food industry uses if Realterm opts to pursue redevelopment.
