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Michael Wahba Acquires Industrial Property In Hunts Point, Bronx For $975,000

1318 Oak Point Avenue
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This Industrial property located in NY was sold for $975,000 over 5 years ago. The brokers of the deal were Jonathan Squires, Michael Fioravanti, Joshua (Josh) Neustadter, and Addison Berniker

The industrial property located at 1318 Oak Point Avenue in Hunts Point, Bronx has been sold. The transaction took place on December 4, 2018, and the property was purchased for a sale price of $975,000. The property spans a total of 3,750 square feet, resulting in a price per square foot of $260. The seller of the property was Francesco Brusco, while the buyer was Michael Wahba. The deal was facilitated by brokers Michael Fioravanti, Jonathan Squires, Joshua Neustadter, and Addison Berniker from CushWake.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $975,000
  • Address: 1318 Oak Point Avenue, Hunts Point, Bronx
  • Market: Hunts Point, Bronx

It is worth noting that the property is situated in an Opportunity Zone and was acquired through an Opportunity Fund. This presents an opportunity for the buyer, Michael Wahba, to take advantage of the program created in the 2018 Tax Reform Bill.

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Deals
  • Location
    1318 Oak Point Avenue, The Bronx, NY, USA1318 Oak Point Avenue, The Bronx, NY, USA
  • Sale Price
    $975,000$975,000
    $260 PPSF$260 PPSF
  • Area
    3,750 SF3,750 SF
  • Asset Type
    IndustrialIndustrial
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Joshua (Josh) Neustadter

Joshua (Josh) Neustadter

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Sold$364.7M

Agencies

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4190
Volume$167B

H2C Securities

H2C Securities

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Volume$162.8M

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Deal Summary

SALE IMAGE: Michael Fioravanti, Addison Berniker, Joshua Neustadter and Jonathan Squires DATE: 12/04/2018 ADDRESS: 1318 Oak Point Avenue MARKET: Hunts Point, Bronx ASSET TYPE: Industrial SELLER: Francesco Brusco BUYER: Michael Wahba BROKERS: Michael Fioravanti, Jonathan Squires, Joshua Neustadter, Addison Berniker @CushWake SALE PRICE: $975,000 SF: 3,750 ~ PPSF: $260 NOTES: Property is located in an Opportunity Zone and was purchased through an Opportunity Fund. The buyer will be able to take advantage of this program which was created in the 2018 Tax Reform Bill.

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1318 Oak Point Avenue

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