Michael Wahba Acquires Industrial Property In Hunts Point, Bronx For $975,000

The industrial property located at 1318 Oak Point Avenue in Hunts Point, Bronx has been sold. The transaction took place on December 4, 2018, and the property was purchased for a sale price of $975,000. The property spans a total of 3,750 square feet, resulting in a price per square foot of $260. The seller of the property was Francesco Brusco, while the buyer was Michael Wahba. The deal was facilitated by brokers Michael Fioravanti, Jonathan Squires, Joshua Neustadter, and Addison Berniker from CushWake.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $975,000
• Address: 1318 Oak Point Avenue, Hunts Point, Bronx
• Market: Hunts Point, Bronx

It is worth noting that the property is situated in an Opportunity Zone and was acquired through an Opportunity Fund. This presents an opportunity for the buyer, Michael Wahba, to take advantage of the program created in the 2018 Tax Reform Bill.