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Kai Wong Acquires Retail Property At 2559 Third Avenue Bronx For $1 Million With Brokers Cushman & Wakefield

Property Image
SOLD
$1,000,000
Austin Weiner
Josh Neustadter
Jonathan Squires

New York

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Retail1,250 SF
Sold 12/16/2025
the dealplayerscompscontact
Property Image
SOLD

Kai Wong Acquires Retail Property At 2559 Third Avenue Bronx For $1 Million With Brokers Cushman & Wakefield

2559 Third Avenue

See Similar Deals
Retail1,250 SF
Sold 12/16/2025
Austin Weiner
Josh Neustadter
Jonathan Squires
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$800
Total Square Footage:1,250 SF
Transaction Type:Sale

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:

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.

Players

Josh Neustadter
Cushman & Wakefield
Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER
Jonathan Squires
Cushman & Wakefield
Jonathan Squires
93 deals$712.3M volume(917) 445-0022
BROKER
Austin Weiner
Cushman & Wakefield
Austin Weiner
37 deals$281.6M volume
BROKER
BE
BNS Real Estate
SELLER

Details

SOLD
IMAGE: Josh Neustadter, Jonathan Squires & Austin Weiner DATE: 12/16/2025 ADDRESS: 2559 Third Avenue MARKET: Bronx ASSET TYPE: Retail BUYER: Kai Wong SELLER: BNS Real Estate BROKERS: Jonathan Squires, Josh Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner) - Cushman & Wakefield (@CushWake) SALE PRICE: $1,000,000 SF: 1,250 ~ PPSF: $800 NOTE FROM BROKER: The team identified an opportunity to unlock incremental value by monetizing development air rights to an adjacent property, contributing to a more accretive outcome in the sale of 2559 Third Avenue.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$3,552.80
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