Bronx, NY Ariel Property Advisors facilitated the sale of 4510 White Plains Rd., a commercial building located in the Wakefield neighborhood. The two-story property sold for $3.725 million.
Located in a populated area, the block-through property benefits from frontage along White Plains Rd. and Furman Ave. Spanning 29,029 s/f, the building also has four curb cuts and entrances that provide access to cars, fork lifts and box trucks.
Exclusive agents Marko Agbaba, Jason Gold, Victor Sozio, and David Khukhashvili represented the owner, Jaclyn LLC and secured the buyer, Mehra Properties.
The property has also undergone an array of important renovations, including a roof replacement, a gas boiler conversion, and a sprinkler system installation. Zoned M1-1, which allows for manufacturing, the building’s new owner inherited an in-place ICAP tax abatement that is set to expire June 30, 2039.
“The property’s size, accessibility, substantial tax savings, and prime location at the center of Wakefield’s up-and-coming residential hub make the asset well-positioned for future growth,” said Agbaba, director at Ariel.
The building is close to 2/5 subways lines, and the B16/B39 bus lines.