Bronx scores only mid-market deals in past two weeks


From left: 580 Gerard Avenue and buyer Joshua Schuster of Silverback Development, and 437-441 164th Street with buyer Jason Friedland of Westrock Development

Just two investment sales between $10 million and $30 million have been recorded in public records since Sept. 20. Both came last week and were for industrial space in the Bronx. Here are details:

1. Silverback Development acquired a 31,200-square-foot parking facility at 580 Gerard Avenue in Concourse for $16.9 million, through the limited liability company SD Gerard Avenue. The property has 214,800 square feet of development potential. Emmes Asset Management was the seller, acting through NR Property 2 LLC.


2. A limited liability company affiliated with Shlepper’s Moving and Storage purchased six industrial properties and a vacant lot in Morrisania with a total of 59,207 square feet for $14 million. The seller was A&I Bronx Realty Corp. The properties are located at 437, 439 and 441 164th Street; and 432, 434 and 442 165th Street as well as a nearby vacant lot. Jason Friedland, president of Shlepper’s, signed the sales document as the buyer. Friedland is also president of Westrock Development, an industrial real estate brokerage firm servicing the Bronx and Lower Westchester.

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Silverback Development is a forward-thinking real estate developer, owner and investor with a reputation for establishing solid partnerships and transforming properties into successful income producing and profitable assets.


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