Sitex Group pays $15.2M to UPS for warehouse in Eastchester

Sitex Group through the entity 4275 Boston Sg LLC paid $15.2 million to United Parcel Service through the entity United Parcel Service, Inc. for the industrial building (E1) at 4275 Boston Road in Eastchester, Bronx. The expected use is cash flowing.
The deal closed on December 29, 2025 and was recorded on January 9, 2026. The property has 72,248 square feet of built space and 241,964 square feet of additional air rights for a total buildable of 314,240 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $210 and the price per buildable square foot is $48 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 United Parcel Service was Luis Torres. The signatory for Sitex Group was Brian Milberg. The contract date was October 31, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Sitex Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller United Parcel Service had not purchased any other properties and sold one property in one transaction for a total of $31.1 million over the same time period. The 72,248-square-foot property generated revenue of $1.6 million or $23 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Eastchester has 72,248 square feet of built space and 241,964 square feet of additional air rights for a total buildable of 314,240 square feet according to a PincusCo analysis of city data. The parcel has frontage of 872 feet and is 290 feet deep with a total lot size of 157,120 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 $8.1 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 $4,000 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 Eastchester, The bulk, or 49 percent of the 3.8 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 18 percent of the space. In sales, Eastchester has the 31st highest sale turnover among other neighborhoods in Bronx with $37.9 million in sales volume in the last two years. For development, Eastchester has had very little major development activity relative to other neighborhoods.It had 635,043 square feet of commercial and multi-family construction under development in the last two years, which represents 17 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the 12 commercial properties representing 7,700 square feet of the 195,043 square feet. The identified owner is Excelsior Investors.
On the tax block, there were 14 new building construction projects totaling 14,269 square feet. The largest is a two-unit, 2,100 square-foot residential (R-3) building submitted by Mathew Ahdoot with plans filed March 5, 2019 and it has not been permitted yet. The second largest is a two-unit, 2,100 square-foot residential (R-3) building submitted by Matthew Ahdoot with plans filed September 22, 2021 and permitted June 24, 2022.

The majority, or 95 percent of the 195,043 square feet of built space are industrial buildings, with retail buildings next occupying 4 percent of the space.

The buyer

The PincusCo database currently indicates that Sitex Group owned at least six commercial properties in New York City with 102,396 square feet and a city-determined market value of $19.9 million. (Market value is typically about 50% of actual value.) The portfolio has $78 million in debt, with top three lenders as CIT Bank, Santander Bank, and Canadian Imperial Bank of Commerce respectively. Within the portfolio, the bulk, or 96 percent of the 102,396 square feet of built space are industrial properties, with retail properties next occupying 4 percent of the space. The bulk, or 67 percent of the built space, is in Queens, with Bronx next at 25 percent of the space.

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