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

Deal includes smaller building in same shopping center

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

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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.