JLL Capital Markets announced that it has arranged the $21.7 million sale of 122 Bruckner Blvd., a 172,774-square-foot residential development site in the Mott Haven section of the Bronx.
JLL represented the seller, Altmark Group, and negotiated the transaction directly with the buyer, Nalcorp, which plans to develop one or more residential buildings.
Located at 122 Bruckner Blvd., the 28,700-square-foot site is situated within an M1-5/R8A zoning district and offers approximately 172,774 square feet of residential development rights. The property sits just south of the Major Deegan Expressway and two blocks east of the Willis Avenue Bridge, providing connectivity to Manhattan and the broader New York metropolitan area. The site’s location and surrounding zoning also position it to benefit from unobstructed waterfront and Manhattan skyline views.
The JLL Capital Markets Investment Sales and Advisory team that arranged the transaction was led by Brendan Maddigan, Ethan Stanton and Mike Mazzara.
“The combination of substantial development rights, strong connectivity to Manhattan and a compelling multifamily market story generated significant interest from investors,” said Maddigan. “The neighborhood has experienced tremendous residential growth over the past decade, and the buyer is well positioned to capitalize on increased renter demand.”
According to research from the NYU Furman Center, Mott Haven has emerged as one of New York City’s most active multifamily development corridors. The neighborhood added nearly 12,000 housing units between 2010 and 2025 and continues to attract significant residential investment due to its proximity to Manhattan, expanding housing stock and growing renter demand.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities.
