$4M for Industrial Building in Wakefield

An investor paid $3.725 million for an industrial building at 4510 White Plains Rd. in the Wakefield neighborhood of the Bronx.

“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 Marko Agbaba of Ariel Property Advisors, who with Jason M. Gold and David Khukhashvilli represented the owner and secured the buyer in the transaction.

The 29,029-square-foot property has recently been renovated, including a new roof, 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 won’t expire until 2039.

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