Kai Wong Acquires Retail Property At 2559 Third Avenue Bronx For $1 Million With Brokers Cushman & Wakefield
2559 Third Avenue
$1,000,000
$800/SF
Building Size
1,250 SF
Asset Type
Retail
Closing
Dec 15, 2025
About this deal
AI
The retail property located at 2559 Third Avenue in the Bronx has been sold for $1,000,000. The asset spans 1,250 square feet, translating to a price per square foot of $800. The transaction reflects active interest in the Bronx market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,000,000
- Sale Date: 12/16/2025
- Buyer: Kai Wong
- Seller: BNS Real Estate
- Brokers: Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield
- Square Footage: 1,250
- Price Per Square Foot: $800
The deal involved key brokers from Cushman & Wakefield, including Jonathan Squires, Josh Neustadter, and Austin Weiner. They noted the potential for incremental value by monetizing development air rights adjacent to the property, enhancing the overall sale outcome.
On the Map
$1,000,000
$800/SF
Retail
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Players
Bronx Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93