Rubenstein’s Somerset Partners closed Wednesday on the purchase of a 16,000-square-foot warehouse at 9 Bruckner Boulevard that he plans to convert into a Gansevoort Market-style food hall to be known as Bruckner Market, the developer told The Real Deal. The purchase price was $7.5 million.
Rubenstein, who is unequivocally bullish on the South Bronx, said he’d been eying the property for some time. The site is located across the street from the massive residential complex he is developing in partnership with the Chetrit Group. Plans for 9 Bruckner are still being hammered out, Rubenstein said, but he envisions a fresh food market, food kiosks, sit-down restaurants and possibly a beer garden.
“We have a great hospitality and restaurant concept that we want to do there,” he said. “It will provide great food and beverage options at affordable prices for the existing community and new community.”
Previously, the building housed a company that manufactured fire doors. Property records show the seller, Halman Enterprises, owned the site since 1997.
Built in the 1930s, the property can be expanded up to 30,000 square feet. Somerset plans to renovate the structure and add a penthouse with an outdoor beer garden and possibly a microbrewery. “It’s still early,” said Rubenstein, who aims to open Bruckner Market in the next 12 to 18 months.