Bronx, December 24, 2025
Brookfield Properties sold an 88,000-square-foot industrial building in the Bronx for $21.7 million, experiencing a significant loss. Originally purchased for $27.9 million in 2020, the sale highlights challenges in the Bronx industrial market, where overall transactions have significantly decreased, emphasizing the need for supportive environments for local businesses and investment. As the real estate landscape evolves, adapting to these challenges is crucial for fostering economic growth and sustainability.
Brookfield Properties Sells Bronx Industrial Building at a Loss
New York City – Brookfield Properties has sold an 88,000-square-foot industrial building in the Bronx for $21.7 million, incurring a loss after purchasing it for $27.9 million in 2020. The property, located at 845 East 136th Street in the Port Morris neighborhood, reflects both the challenges and resilience found within the local real estate market.
Details of the Sale
The building, which was acquired by Brookfield in December 2020 for $27.9 million, showcases significant features including 16 loading docks and ceiling heights up to 30 feet, making it a valuable asset for distribution and industrial operations. Originally constructed in 1931 and renovated in 2017, the building was seen as a promising investment at the time of its acquisition amid a growing industrial sector.
Market Context
The Bronx industrial sector has faced notable challenges recently. In 2024, the total dollar volume of transactions dropped 46% to $118.2 million, and the transaction volume itself declined 29% to just 25 trades, marking the lowest dollar volume since 2014 and the lowest transaction volume since 2011. These trends underscore the significant pressures that many investors and industrial tenants are experiencing within the market.
Background on Brookfield Properties
Brookfield Properties is a subsidiary of Brookfield Asset Management, a prominent global real estate company with a diverse portfolio that includes office, retail, multifamily, and industrial properties. As a notable player in the real estate market, Brookfield’s strategic decisions reflect broader trends that impact both investment and community development in New York City.
Implications for Local Businesses
While this sale represents a loss for Brookfield, it also highlights the larger implications for local businesses and the economy. The challenges faced in the Bronx’s industrial market indicate the necessity for a supportive environment conducive to small-business growth and investment. The resilience shown by local entrepreneurs amidst adversity can serve as a foundation for future recovery and innovation.
The Path Forward
As New York City continues to navigate the complexities of its real estate market, the ability to adapt and innovate will be vital. Reducing regulatory hurdles and fostering a more business-friendly atmosphere can empower local entrepreneurs and attract larger investments, ultimately generating job opportunities and enhancing the economic landscape. Collaboration between public and private sectors becomes crucial in driving forward initiatives that support growth and sustainability.
Conclusion
Brookfield Properties’ recent sale of the Bronx industrial building serves as a reminder of the volatile nature of real estate investments, particularly in the industrial sector. As challenges persist, the focus must remain on supporting local businesses and creating an environment where innovation and entrepreneurship can thrive. By championing collective efforts to enhance the Bronx’s industrial sector, New York City can continue to pave the way for a prosperous economic future.
Frequently Asked Questions (FAQ)
What was the sale price of the Bronx industrial building?
The building was sold for $21.7 million, resulting in a loss compared to its purchase price of $27.9 million in 2020.
Where is the property located?
The property is situated at 845 East 136th Street in the Port Morris neighborhood of the Bronx.
What are the features of the building?
The building, constructed in 1931 and renovated in 2017, includes 16 loading docks and ceiling heights up to 30 feet.
How has the Bronx industrial market been performing?
The Bronx industrial sector has faced challenges, with dollar volume dropping 46% to $118.2 million and transaction volume falling 29% to 25 trades in 2024, marking the lowest dollar volume since 2014 and the lowest transaction volume since 2011.
Who is Brookfield Properties?
Brookfield Properties is a subsidiary of Brookfield Asset Management, a global real estate company with a diverse portfolio, including office, retail, multifamily, and industrial properties.
| Feature | Details |
|---|---|
| Sale Price | $21.7 million |
| Purchase Price | $27.9 million |
| Location | 845 East 136th Street, Port Morris, Bronx |
| Building Size | 88,000 square feet |
| Year Built | 1931 |
| Renovation Year | 2017 |
| Loading Docks | 16 |
| Ceiling Heights | Up to 30 feet |
| Brookfield Properties | Global real estate company, subsidiary of Brookfield Asset Management |
Now Happening on X
- @NYBizJournal (Dec 23, 2025): Brookfield Properties took a multimillion-dollar hit on an industrial property in the Bronx. View on X
- @NYBizJournal (Dec 24, 2025): Brookfield Properties took a multimillion-dollar hit on an industrial property in the Bronx. View on X
- @CrainsNewYork (Dec 23, 2025): Brookfield Properties sells Bronx warehouse to California firm at $5 million loss. View on X
- @KennyBurgosNY (Nov 12, 2025): Good morning from The Bronx where another rent stabilized building is selling for pennies on the dollar; this case highlights challenges for tenants considering purchase. View on X
- @tradedny (Dec 18, 2025): Recent loan details for multiple industrial properties across Brooklyn, Queens, and Bronx, including 112 Bruckner Boulevard and 979 Brook Avenue. View on X
- @Houstonomics (Dec 23, 2025): The deal with landlord Brookfield Properties ranks as the fourth-largest office lease signed in New York this year. View on X
- @qualityequities (Dec 22, 2025): Brookfield sees renewed liquidity and transaction activity in real estate, focusing on assets like logistics, housing, and hospitality where operational expertise drives value. View on X
- @euanrellie (Dec 21, 2025): Business confidence in New York remains strong, with major investments like JPMorgan Chase’s $3bn Park Avenue tower and Google’s Hudson Square campus. View on X
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