Investors Buy Staten Island Properties

Investors bought $300 million in commercial real estate properties in Staten Island in the first half of 2017 — up 61% compared to the year before.

That makes Staten Island exceptional. The volume of properties bought and sold fell sharply in other borough of New York over the same period, according to the Real Estate Board of New York (REBNY).

Nearly all of the properties traded — 89% — were garages, gas stations, industrial and retail buildings or vacant land. Investors bought few office properties and no apartment buildings. The highest-priced transaction in Staten Island in the second half of 2017 was the $67-million sale of a 2.1-million-square-foot vacant site, located south of the Goethals Bridge (pictured) off-ramp on Bloomfield Ave.

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