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CenterPoint Properties Acquires 4.6 Acre Industrial Property In South Bronx From Innovo Property Group For $119M

511 Barry Street
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This Industrial property located in NY was sold for $119,000,000 over 3 years ago. The brokers of the deal were Ryan Silber, Tyler Peck, Daniel (Dan) Kaplan, Leslie Lanne, Robert (Rob) Kossar, Doug Middleton, Brian Fiumara, and Andrew Scandalios

511 Barry Street, an industrial property located in the South Bronx, was sold in August 2021 for a total price of $119,000,000. The property spans across approximately 4.6 acres, making it a substantial asset in the market. The transaction represents a notable increase from its last sale in 2019, when it was purchased for $54 million.

Summary of transaction details

The sale of 511 Barry Street was facilitated by a team of brokers, including Rob Kossar, Tyler Peck, Leslie Lanne, and Andrew Scandalios from JLL, as well as Doug Middleton, Daniel Kaplan, Brian Fiumara, and Ryan Silber from CBRE. CenterPoint Properties acquired the property from Innovo Property Group, with a notable tenant in place, Amazon. The transaction showcases the demand for industrial properties in the South Bronx market.

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Deals
  • Location
    511 Barry Street, Bronx, NY 10455511 Barry Street, Bronx, NY 10455
  • Sale Price
    $119,000,000$119,000,000
    $851 PPSF$851 PPSF
  • Area
    139,700 SF139,700 SF
  • Asset Type
    IndustrialIndustrial
  • Parties
    8 Brokers, 2 Agencies8 Brokers, 2 Agencies

Agents

Ryan Silber

Ryan Silber

Deals6
Sold$1B

Tyler Peck

Tyler Peck

Deals15
Financed$1.3B

Robert (Rob) Kossar

Robert (Rob) Kossar

Deals6
Sold$584.4M

Leslie Lanne

Leslie Lanne

Deals5
Sold$355M

Doug Middleton

Doug Middleton

Deals18
Sold$4.3B

Daniel (Dan) Kaplan

Daniel (Dan) Kaplan

Deals33
Sold$996.5M

Brian Fiumara

Brian Fiumara

Deals16
Sold$1.4B

Andrew Scandalios

Andrew Scandalios

Deals43
Financed$6.8B

Agencies

CBRE

CBRE

Agency
Deals4228
Volume$184.3B

JLL

JLL

Agency
Deals5579
Volume$332.6B

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Deal Summary

SALE 🔊 IMAGE: Andrew Chung, @JeffBezos & Bob Chapman DATE: 08/2021 ADDRESS: 511 Barry Street MARKET: South Bronx ASSET TYPE: Industrial ~ ACRES: 4.6 TENANT: @Amazon 📦 🚀 BUYER: @CenterPointProperties SELLER: Innovo Property Group (@InnovoPropertyGroup) BROKERS: Rob Kossar, Tyler Peck, Leslie Lanne & Andrew Scandalios @JLL; Doug Middleton, Daniel Kaplan, Brian Fiumara & Ryan Silber @CBRE SALE PRICE: $119,000,000 CAP: 3% (approx.) LAST SALE: $54M (2019) 📈

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511 Barry Street

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