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Emily Kim Purchases Development Site From Pogostin Family In Bronx For $1.275M

Property Image
SOLD
$1,275,000
Emily Kim
Josh Neustadter
+ 1

New York

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Development Site
Sold 05/21/2025
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Property Image
SOLD

Emily Kim Purchases Development Site From Pogostin Family In Bronx For $1.275M

4259 Third Avenue

See Similar Deals
Development Site
Sold 05/21/2025
Emily Kim
Josh Neustadter
+ 1
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

The property involved in this transaction is a development site located at 4259 Third Avenue in the Bronx. The asset was sold for a price of $1,275,000, with a building square footage of approximately 11,600 and a price per building square foot of $109.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,275,000
  • Address: 4259 Third Avenue
  • Market: Bronx
  • Building Square Footage: 11,600
  • Price Per Building Square Foot: $109
  • Buyer: Emily Kim
  • Seller: Pogostin Family
  • Brokers: Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield

The transaction was facilitated by brokers Jonathan Squires, Josh Neustadter, and Austin Weiner, who represented the involved parties through Cushman & Wakefield. Their expertise contributed to the completion of this sale in the Bronx market.

Players

Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Austin Weiner
Cushman & Wakefield
37 deals$281.6M volume
BROKER

Emily Kim
2 deals$2.4M volume
BUYER

Details

SOLD
IMAGE: Josh Neustadter, Jonathan Squires & Austin Weiner DATE: 5/21/2025 ADDRESS: 4259 Third Avenue MARKET: Bronx ASSET TYPE: Development Site BUYER: Emily Kim SELLER: Pogostin Family BROKERS: Jonathan Squires, Josh Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner) - Cushman & Wakefield SALE PRICE: $1,275,000 BSF: 11,600 ~ PPBSF: $109

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$67,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,529.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,044.15
Annual Debt Service$72,529.81