New York & Tri-State + Outer + Industrial | March 25, 2021

Industrial Takes Center Stage on Staten Island

In 2020, Staten Island was top of mind for industrial developers, Ariel Property Advisors says in its first-ever Staten Island Year-End Investment Sales Report. The borough has the most undeveloped land in New York City zoned for industrial development, and saw $322 million in investment sales dollar volume last year, approximately the same figure as 2019, a remarkable feat during the COVID-19 pandemic.

“Industrial continues to be an incredibly ascendant asset class across the boroughs—and Staten Island is no exception,” said John Higgins, director, investment sales at Ariel. “Staten Island is well-placed to ship to New York City and New Jersey, so we expect to see ongoing industrial property investment there.”

Outside of industrial development trades, there were also significant trades within the multifamily and commercial asset classes. While Staten Island’s dollar volume held up, transactions fell 39% compared to 2019.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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