Whitestone Multiplex Cinemas, at 2505 Bruckner Boulevard

In the fifth largest property sale in the Bronx since the collapse of Lehman Brothers and the Wall Street meltdown, a multiplex at 2505 Bruckner Boulevard has sold for $30 million, according to records filed with the city.

The Lightstone Group, a privately held real estate owner and manager, bought the property from an entity called Kbt Theatres LLC, which in turned leased back the theater, according to a memorandum of lease filed with the city at the same time. The terms of the lease were not given. [more]

High Bridge

The $62 million restoration of the High Bridge, the 1,200-foot long pedestrian path that connects the Highbridge section of the Bronx with Washington Heights in Manhattan, will commence this summer. According to the New York Times, the reopening of the city’s oldest bridge after 40 years of closure could provide a big boost to one of the city’s worst-off neighborhoods. [more]

Sheridan Expressway

The city’s study on whether or not to tear down the Sheridan Expressway in the Bronx to make way for parks and housing has been delayed another year by the Bloomberg administration, the New York Daily News reported. Borough activists want more green spaces in the Bronx, while the New York City Department of Transportation has said closing the expressway will only push traffic onto local roads. [more]

1880 Bartow Avenue in the Bronx

The largest property sale in the Bronx since the collapse of Lehman Brothers Holding Company has closed, according to records filed with the city last week. The property, a storage facility at 1880 Bartow Avenue in the Baychester section of the Bronx, sold for $59.27 million, the records show. [more]

Construction will begin today on a 49-unit development in the Morrisania section of the Bronx, a project that marks the first time in years that public housing has been built on private land in New York City, the Wall Street Journal reported.

The new development, at 1070 Washington Avenue, is one of the first new public housing projects built under the Bloomberg administration, although it has constructed a number of “affordable” housing units. [more]

Hunts Point Produce Market

The local food movement is styming the city’s best effort to keep the Hunts Point wholesale produce market, and it’s 3,000 jobs, in the South Bronx and away from the Garden State, according to the New York Times. The city has been negotiating with the cooperative that owns the 45-year-old market in hopes of reaching an agreement by June 29, at which point New Jersey would reopen talks with the market. [more]

Co-op City

The residents of the nation’s largest co-op, Co-op City in the Bronx, are in talks to take out a $600 million loan that could allow the middle-income housing complex to remain in the Mitchell-Lama program, the Wall Street Journal reported. [more]

John Reinertsen of CBRE Group

Low rents, easier transportation access and a large supply of low-wage workers for adding jobs have contributed to a trend of industrial tenants signing leases in the Bronx, Crain’s reported. The recent moves have even gained support from the city, who is asking industrial tenants in Manhattan and Queens to go to the Bronx and asking those that have already moved there to stay put.

Beyond the Hunts Point Produce Market, which will remain in the Bronx, and Fresh Direct, there are new tenants popping up around the borough. They include Dufour Pastry Kitchens, which is a bakery, and Smith Electric Vehicles, which assembles clean technology trucks. [more]

Old Bronx Opera House at 436 East 149th Street

The developer of the Lucerne and Belvedere boutique hotels in Manhattan is planning a similar lodging project, set to open in December, for a property he owns in the South Bronx. The New York Daily News reported Jay Domb is transforming the old Bronx Opera House, at 436 East 149th Street in the Hub section of the Bronx, into a $10 million, 61-room boutique hotel called the Bronx Opera House Hotel. [more]

The Bronx

Developer Equity One has been tapped to build an 80,000-square-foot commercial project along the Broadway retail corridor in the Bronx, according to a statement from the New York Economic Development Corporation today. The firm will spend $54 million to construct a new, 133,000-square-foot, two-story multi-tenant retail development and a parking facility on the site in the Kingsbridge area. EDC claims the development will create 250 new jobs, some full- and some part-time. [more]