Realterm pays $10.3M for industrial in Hunts Point

Logistics firm Realterm through the entity RLF V East, LLC paid $10.3 million through the entity CJC Garrison 935 LLC for the industrial building (G1) at 891 Garrison Avenue in Hunts Point, Bronx.
The deal closed on May 8, 2026 and was recorded on June 18, 2026. The property has 9,200 square feet of built space and 70,938 square feet of additional air rights for a total buildable of 80,156 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,116 and the price per buildable square foot is $128 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 May 4, 2015, for $226,456. The signatory for Barry Haskell , Shelley Won, and Kimberli Silverstein was Barry Haskell . The signatory for Realterm was Edward Brickley . The contract date was December 23, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Realterm had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Barry Haskell had not purchased any other properties and sold four properties in three transactions for a total of $15 million over the same time period. The 9,200-square-foot property generated revenue of $605,826 or $66 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Hunts Point has 9,200 square feet of built space and 70,938 square feet of additional air rights for a total buildable of 80,156 square feet according to a PincusCo analysis of city data. The parcel has frontage of 400 feet and is 100 feet deep with a total lot size of 40,078 square feet. The zoning is M1-2 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.8 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 $250 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 $121.7 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 328,890 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the five commercial properties representing 133,896 square feet of the 143,096 square feet. The two identified owners are Bawabeh Holdings and SEBCO Development .
There are no active new building construction projects on this tax block.

The majority, or 80 percent of the 143,096 square feet of built space are elevator buildings, with office buildings next occupying 14 percent of the space.

The buyer

The PincusCo database currently indicates that Realterm owned at least 11 commercial properties in New York City with 625,296 square feet and a PincusCo-determined asset value of $353.4 million. The portfolio has $129.5 million in debt, with top three lenders as Regions Bank , BMO Harris Bank , and BMO Harris respectively. Within the portfolio, the bulk, or 94 percent of the 625,296 square feet of built space are industrial properties, with specialty properties next occupying 5 percent of the space. The bulk, or 70 percent of the built space, is in Bronx, with Queens next at 25 percent of the space.

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