JLL Capital Markets has arranged the $21.7 million sale of 122 Bruckner Blvd., a large-scale residential development site in the Mott Haven section of the Bronx. The property totals 172,774 square feet and is designated for residential development, positioning it as a significant future multifamily location within the neighborhood. JLL represented the seller, Altmark Group, and negotiated the transaction directly with the buyer, Nalcorp.
According to JLL, Nalcorp plans to pursue one or more residential buildings on the site, adding to the pipeline of new housing in Mott Haven. While specific development details were not disclosed, the acquisition underscores continued investor interest in development-ready parcels in this part of the Bronx. The site benefits from proximity to key transportation routes, which was cited as a factor in investor demand.
The JLL Capital Markets Investment Sales and Advisory team that led the transaction was composed of Brendan Maddigan, Ethan Stanton and Mike Mazzara. The team was responsible for marketing the site, representing Altmark Group in the sale, and negotiating directly with Nalcorp. Their mandate focused on highlighting the development potential and locational advantages of the Bruckner Boulevard asset.
Maddigan noted that the combination of substantial development rights, connectivity to Manhattan and the broader New York metropolitan area, and the strength of the local multifamily narrative attracted considerable investor attention. He added that Mott Haven has seen significant residential growth over the past decade, and that the buyer is positioned to take advantage of increased renter demand in the area.
Located just south of the Major Deegan Expressway and two blocks east of the Willis Avenue Bridge, 122 Bruckner Blvd. offers direct links to Manhattan as well as other parts of the region. This transportation access is a key feature of the site, supporting future residential use by providing convenient commuter routes for prospective tenants. The transaction reflects ongoing interest in transit-accessible development parcels within the New York metropolitan area and solidifies Mott Haven’s role as an active submarket for residential investment.
