Yung Ching Siu Acquires Wakefield Warehouses From Philip Vallone For $7.15M

A warehouse property located at 4855 Baldwin Street & 4616 Bradley Street in Wakefield, Bronx has been sold. The property, with a lot size of 30,750 square feet, consists of two warehouses with a total square footage of 29,330. The buyer, Yung Ching Siu, acquired the property from the seller, Philip Vallone, for a price of $7,154,029. The last recorded sale of the property was on October 4, 2017, for $3,000,000. The warehouses are zoned as M1-1, indicating their use for industrial purposes.

Summary of transaction details

• Property Type: Warehouses
• Transaction Amount: $7,154,029
• Building Square Footage: 29,330
• Price per Square Foot: $244
• Lot Size: 30,750 square feet
• Zoning: M1-1

The buyer, Yung Ching Siu, made this investment through his representative at the deal. The seller, Philip Vallone, was represented by his own agent. The property's floor area ratio (FAR) is 0.94, and the tax class is 4. The lot dimensions measure 317.17 feet by 110.58 feet. This transaction marks a significant increase in the property's value, with the purchase price of $7,154,029 surpassing the previous sale price of $3,000,000 in 2017.