John Holsapple pays $6.8M to Kenneth Bukofser for industrial building in Mott Haven

John Holsapple through the entity Green Walton Real Estate LLC paid $6.8 million to Kenneth Bukofser through the entity 287-289 Walton Avenue LLC for industrial building at 287 Walton Avenue in Mott Haven, Bronx.
The deal closed on December 10, 2021 and was recorded on January 26, 2022.
The property has 25,348 square feet of built space and 19,651 square feet of additional air rights for a total buildable of 45,003 square feet according to PincusCo analysis of city data. The sale price per built square foot is $268 and the price per buildable square foot is $151 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 signatory for Kenneth Bukofser was Kenneth Bukofser. The signatory for John Holsapple was John Holsapple.

The 25,348-square-foot property generated revenue of $235,364 or $9 per square foot, according to the most recent income and expense figures.

In Mott Haven, the bulk, or 38 percent of the 43.4 million square feet of built space are residential elevator buildings, with industrial buildings next occupying 23 percent of the space. In sales, Mott Haven has 2.7 times the average sales volume among other neighborhoods with $744 million in sales volume in the last two years and is the highest in Bronx. For development, Mott Haven is the 7th most active neighborhood among other neighborhoods. It had 4.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.
On the tax block, the majority, or 69 percent of the 372,446 square feet of built space are industrial buildings, with specialty buildings next occupying 31 percent of the space.
Within a 400-foot radius of 287 Walton Avenue, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, three were in new building development. There were one new building permit application and two new building permits. The most recent of these three items was a permit on August 30, 2021 for a 135,106-square-foot R-2 building with 150 residential units at 310 Grand Concourse.
One of those six items was a sale which Beitel Group bought the 20,480-square-foot industrial (F4) on 261 Grand Concourse for $9 million from Brona McGirl and Nora O’Donoghue on August 25, 2020.
Of those six items, two were loans above $5 million totaling $25.8 million. The most recent of the two was Beitel Group which borrowed $6.8 million from First Central Savings Bank secured by the 20,480-square-foot, one-unit industrial (F4) on 261 Grand Concourse on August 25, 2020.

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