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4855 Baldwin Street, New Yo...

Updated Dec 21, 2023

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

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

4855 Baldwin Street, New York 10550, United States

$7,154,029

$243/SF

Building Size

29,330 SF

Asset Type

Industrial

Closing

Nov 8, 2021

About this deal

AI

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.

On the Map

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$7,154,029

$243/SF

Industrial

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Players

Yung Ching Siu

Criterion Group

Buyer

$57.9M

vol

4 deals

Buyer
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City of Mount Vernon Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $243 per square foot on a published $7.2M for 29,330 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.22%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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