The Real Deal New York

From the February issue: The Bronx, which was burning with investment opportunities before the credit crunch, is seeing the pace and size of its commercial deals level off, commercial brokers said. While brokers are bullish on the potential of the borough, which they say is stocked with established residential neighborhoods that are underserved by retail, investors appear to be putting on the brakes. Of the 25 largest commercial deals in the Bronx in 2007, according to data from Real Capital Analytics, only four deals were closed during the fourth quarter of the year: a $37 million office building, a $20.5 million apartment building, a $15 million mixed-use property, and a $12 million development site.  [more]