AAA Wholesale Distributors Acquires Industrial Asset From Schwartz Family For $6.95M In Bronx

The property asset involved in this transaction is an industrial facility located at 1120 Close Avenue in the Bronx market. The sale price of the property was $6,950,000, and it encompasses 32,400 square feet, equating to $215 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,950,000
• Address: 1120 Close Avenue
• Market: Bronx
• Square Footage: 32,400
• Price Per Square Foot: $215
• Buyer: AAA Wholesale Distributors
• Seller: Schwartz Family
• Buyer's Representative: Ariel Castellanos, Federico Mazzeo & Matthew Lourenco - Pinnacle Realty of New York

Pinnacle Realty of New York played a key role in this transaction, successfully procuring the purchaser during a challenging economic climate, especially after the property had been on the market for several months. This transaction highlights Pinnacle's capability in catering to both qualified owner-occupied users and investors.