Marc Pogostin Acquires Industrial Property On Third Avenue In East Tremont, Bronx For $4.3M

The industrial property located at 4309 Third Avenue in East Tremont, Bronx has been sold in a transaction. The property spans 16,380 square feet and was sold for a price of $4,300,000, resulting in a price per square foot of $263. The sale was successfully closed within a period of 90 days.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $4,300,000
• Square Feet: 16,380
• Price per Square Foot: $263
• Address: 4309 Third Avenue, East Tremont, Bronx
• Market: East Tremont, Bronx

The buyer of the property is Marc Pogostin, while the seller is James Caroll. The transaction was facilitated by Ariel Castellanos and Federico Mazzeo of Pinnacle Realty, who represented both the seller and the buyer. It is worth noting that the deal involved a 1031 Exchange, a tax-deferred strategy that allows property owners to reinvest the proceeds from the sale of one property into another property of equal or greater value.