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4259 Third Avenue

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

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

4259 Third Avenue

$1,275,000

Building Size

Asset Type

Development Site

Closing

May 20, 2025

AI

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

Cushman & Wakefield

Broker

$545.5M

vol

60 deals

Broker
Emily Kim

Emily Kim

Buyer

$2.4M

vol

2 deals

Buyer

Bronx Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.44%

Cash-on-Cash

-3.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93