Cover Story

Retail in the (East) Bronx Is on Fire

Proposed shopping center at Gun Hill Square.

Up until the late 1980s, people in the East Bronx had to drive to Westchester to find the closest mall. Then, in 1988, Bay Plaza Shopping Center was built, and now has  more than 50 department and specialty retailers ranging from J.C. Penney to Daffy’s to Applebee’s. Now, the mall’s developer, Prestige Properties & Development, is expanding the center with what it boasts is the first new, suburban style enclosed fashion mall in the New York City area in four decades.

And that’s just one aspect of an emerging retail scene in the East Bronx, as more young professionals and families flee Manhattan for less-expensive properties in Bronx County. Other retail projects in various stages of development in the East Bronx—the area includes Throggs Neck, Morris Park, Van Nest, Country Club, Co-op City, City Island, Pelham Parkway and Pelham Bay neighborhoods—are the Throggs Neck Shopping Center, a Gun Hill Square open-air retail center and an outlet center at the Whitestone Multiplex site. Read More

Mortgage Observer

Development Projects Abound, But Boroughs Still Under-Retailed

Throggs Neck Shopping Center.

New York City is the number one retail location in the world. Retailers from around the world flock to open flagship stores throughout the Big Apple. Apple’s store on Fifth Avenue, with its familiar cube, has the highest revenue of all Apple stores. Then there are the flagships of Uniqlo, Zara, Tiffany & Co., Bergdorf Goodman and a cast of others. Nevertheless, when you ask prominent owners of commercial real estate as well as local and national retailers, the general consensus is that the outer boroughs of New York City are severely under-retailed.

Eastern Consolidated’s Barbara Byrne Denham reported in May 2012 that retail sales per capita ratios for the outer boroughs were far below the national average. Brooklyn was 39 percent below, Queens was 40 percent below and the Bronx came in a whopping 60 percent below. Read More

Lease Beat

Famous Footwear Inks at Throggs Neck Shopping Center

Courtesy of SeekLogo

Famous Footwear has inked a deal for a new location in the Bronx.

The national footwear chain has signed a deal for a 5,500-square-foot store in the Throggs Neck Shopping Center located near the intersection of Lafayette Avenue, Brush Avenue, and Hutch Service Road.

“The leasing velocity we’re seeing at Throggs Neck Shopping Center demonstrates Read More

Lease Beat

Applebee’s Joins Throggs Neck Shopping Center

Courtesy of Printable Coupons

Applebee’s is set to open a new 6,640-square-foot location in the Bronx.

The casual dining restaurant, known for signature items like “riblets,” will be opening a location at the Throggs Neck Shopping Center in Ferry Point. The center, anchored by Target and junior anchored by TJ Maxx, is slated to open in March 2014 and Read More