The Real Deal New York

Home Depot buys Bronx retail location from Madison International Realty for $40M

Deal includes smaller building in same shopping center
By Mary Diduch | February 15, 2019 06:04PM

1806 and 1816 East Gun Hill Road in the Bronx (Credit: Google Maps)

Home Depot bought two Bronx properties for $40 million, about two weeks after the retailer filed plans to build a new 133,000-square-foot store in Queens.

The home improvement supplier dropped $40 million for two commercial buildings along East Gun Hill Road, near the Bay Plaza Shopping Center in the Bronx. The seller was Madison International Realty, according to a public filing recorded Friday with the New York City Department of Finance.

The larger of the two properties, at 1806 East Gun Hill Road, already houses a Home Depot location. A parking lot sits between the Home Depot and the second building in the sale, a Chuck E. Cheese’s at 1816 East Gun Hill Road.

Madison International Realty and Home Depot did not immediately return requests for comment late Friday afternoon.

Home Depot recently filed an application with the city to construct a new store at 59-02 Borden Avenue in Maspeth, at the site of a Coca-Cola bottling plant. Home Depot bought the site in 2017 for $63 million.

The Bronx properties the retailer recently acquired sit near a building that holds the Pelham Bay Diner, which was recently acquired By Jeff Sutton’s Wharton Properties for $10.25 million.