Richard Pogostin pays $5.8M to BNS Real Estate for industrial in Longwood

Richard Pogostin through the entity 703 -6th Inc. paid $5.8 million to BNS Real Estate through the entity 751-767 Bruckner, LLC for the industrial building (G2) at 751-767 Bruckner Boulevard in Longwood, Bronx. The expected use is cash flowing.
The deal closed on October 16, 2025 and was recorded on October 27, 2025. The property has 18,500 square feet of built space and 18,500 square feet of additional air rights for a total buildable of 37,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $313 and the price per buildable square foot is $156 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 BNS Real Estate was Bradford S. Barr . The signatory for Richard Pogostin was Richard Pogostin. The contract date was September 8, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Richard Pogostin purchased one property in one transaction for a total of $2.2 million and sold three properties in three transactions for a total of $10.8 million over the past 24 months.
The seller BNS Real Estate had not purchased any other properties and sold 13 properties in 12 transactions for a total of $51 million over the same time period. The 18,500-square-foot property generated revenue of $420,604 or $23 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Longwood has 18,500 square feet of built space and 18,500 square feet of additional air rights for a total buildable of 37,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 185 feet and is 100 feet deep with a total lot size of 18,500 square feet. The zoning is C8-3 which allows for up to 2 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $2.5 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 $350 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 Longwood, The bulk, or 44 percent of the 22.3 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, Longwood has had very little sales volume relative to other neighborhoods with $91.9 million in sales volume in the last two years. For development, Longwood has 2.3 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Bronx. It had 3.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 15 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 80 percent of the 205,477 square feet of built space are industrial buildings, with retail buildings next occupying 16 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.

The buyer

The PincusCo database currently indicates that Richard Pogostin owned at least two commercial properties with six residential units in New York City with 19,080 square feet and a city-determined market value of $3.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 76 percent of the 19,080 square feet of built space are industrial properties, with mixed-use properties next occupying 24 percent of the space. The bulk, or 76 percent of the built space, is in Bronx, with Brooklyn next at 24 percent of the space.

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