BNS Real Estate sells industrial in Hunts Point for $10.3M, 12th sale since 2023

A heating and cooling contractor, Maric Mechanical through the entity Maric 310 LLC paid $10.3 million to BNS Real Estate through the entity 157 West Street, LLC for the industrial building (E1) at 310 Tiffany Street in Hunts Point, Bronx. The expected use is owner-occupied. This is at least the 12th property sale for BNS Real Estate since 2023, according to PincusCo records.
The deal closed on May 1, 2025 and was recorded on May 9, 2025. The property has 40,000 square feet of built space for a total buildable of 40,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $257 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on March 5, 2008, for $5 million. The signatory for BNS Real Estate was Bradford S. Barr . The signatory for Maric Mechanical was Linda Zahn . The contract date was December 27, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Maric Mechanical had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller BNS Real Estate had not purchased any other properties and sold nine properties in nine transactions for a total of $46 million over the same time period. The 40,000-square-foot property generated revenue of $748,507 or $19 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Hunts Point has 40,000 square feet of built space for a total buildable of 40,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 200 feet and is 100 feet deep with a total lot size of 20,000 square feet. The lot is irregular. The zoning is M3-1 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $4.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $900 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Hunts Point, The majority, or 59 percent of the 14.4 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 15 percent of the space. In sales, Hunts Point has had very little sales volume relative to other neighborhoods with $100.9 million in sales volume in the last two years. For development, Hunts Point has had very little major development activity relative to other neighborhoods.It had 879,912 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 60 commercial properties representing 87,400 square feet of the 422,579 square feet. The largest owner is Jack Guttman, followed by Mario Jacovino and then Mary Traina.
There are no active new building construction projects on this tax block.

The majority, or 97 percent of the 422,579 square feet of built space are industrial buildings, with specialty buildings next occupying 3 percent of the space.

The seller

The PincusCo database currently indicates that BNS Real Estate owned at least two commercial properties with 80 residential units in New York City with 139,803 square feet and a city-determined market value of $14.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 56 percent of the 139,803 square feet of built space are industrial properties, with elevator properties next occupying 44 percent of the space. The bulk, or 56 percent of the built space, is in Bronx, with Brooklyn next at 44 percent of the space.

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