Philosophy Care pays $19.8M to Benjamin Companies for specialty building in Throgs Neck

Philosophy Care Centers through the entity Berkzup Throgs Neck TIC LLC paid $19.8 million to Benjamin Companies through the entity 727 Throgs Neck Expressway, Inc. for specialty building at 727 Throgs Neck Expressway in Throgs Neck, Bronx.
The deal closed on December 28, 2021 and was recorded on January 20, 2022.
The property has 83,146 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $237 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 Benjamin Companies was Denise R. Coyle. The signatory for Philosophy Care Centers was Bent Philipson.

Bent Philipson is the founder of Philosophy Care Centers which is located at the same address as the buyer LLC.

In Throgs Neck, the majority, or 64 percent of the 17.3 million square feet of built space are 1-4 family buildings, with residential elevator buildings next occupying 14 percent of the space. In sales, Throgs Neck has the 37th highest sale turnover among other neighborhoods in Bronx with $10.6 million in sales volume in the last two years. For development, Throgs Neck has had very little major development activity relative to other neighborhoods.It had 29,949 square feet of commercial and multi-family construction under development in the last two years, which represents 0.17 percent of the neighborhood’s built space.
On the tax block, the majority, or 56 percent of the 148,601 square feet of built space are specialty buildings, with 1-4 family buildings next occupying 33 percent of the space.
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