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ARTICLE · 18 OCTOBER 2018

South Bronx Undergoing Commercial Development Boom

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On the cusp of massive commercial redevelopment, the South Bronx is now viewed by many as the next Williamsburg or Long Island City.

United StatesReal Estate and Construction
Todd Soloway
Todd Soloway
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On the cusp of massive commercial redevelopment, the South Bronx is now viewed by many as the next Williamsburg or Long Island City. 

Bolstering this outlook is the recent $165 million sale by prominent real estate investors Keith Rubenstein (Somerset Partners) and Joseph Chetrit (Chetrit Group) of two prime development sites at 101 Lincoln Avenue and 2401 Third Avenue in the Mott Haven section of the Bronx. Acquiring the sites, which were originally purchased by Rubenstein and Chetrit for $58 million in late 2014 and early 2015, is Brookfield Properties, the real estate investment firm known for transforming lower Manhattan's Brookfield Place into a buzzing retail and dining destination. 

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