Susan Ting, Austin Ting, pay $16.2M to ARCTRUST for retail in Unionport

Susan Ting and Austin Ting through the entity Jackson Ht. Roosevelt Development Corp. paid $16.2 million to ARCTRUST through the entity Bronx Westchester A2 LLC for the retail building (K7) at 2244 Westchester Avenue in Unionport, the Bronx, and adjacent and parking (G7) at 2246 Westchester Avenue and at 2248 Westchester Avenue.

This is the headquarters location for lender Ponce Bank .

ARCTRUST bought these three properties in November 2021 for $16.1 million.
The deal closed on June 3, 2026 and was recorded on June 10, 2026. The three properties have 29,819 square feet of built space and 30,937 square feet of additional air rights for a total buildable of 60,705 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $544 and the price per buildable square foot is $267 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 ARCTRUST was Gary S. Baumann . The signatories for Susan Ting and Austin Ting were Susan Ting and Austin Ting. The contract date was April 24, 2026.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 2244 Westchester Avenue.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Susan Ting had purchased any other properties and sold two properties in one transaction for a total of $14 million over the past 24 months.
The seller ARCTRUST had not purchased any other properties and had not sold any properties over the same time period. Out of the three properties, one with a total of 29,819 square feet of built space generated revenue of $958,140 per year.

The property

The retail building in Unionport has 29,819 square feet of built space and 30,937 square feet of additional air rights for a total buildable of 60,705 square feet according to a PincusCo analysis of city data. The parcel has frontage of 306 feet and is 125 feet deep with a total lot size of 36,750 square feet. The lot is irregular. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $7.7 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one DOB violation, $3,125 in ECB penalties, and $3,125 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the three buildings received a initial certificate of occupancy in the last ten years. 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 Unionport, The bulk, or 32 percent of the 6.5 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 20 percent of the space. In sales, Unionport has had very little sales volume relative to other neighborhoods with $100.9 million in sales volume in the last two years. For development, Unionport has had very little major development activity relative to other neighborhoods.It had 404,466 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On the tax block of 2244 Westchester Avenue, PincusCo has identified the owners of three of the 10 commercial properties representing 29,819 square feet of the 55,403 square feet. The identified owner is ARCTRUST.
There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 55,403 square feet of built space are retail buildings, with mixed-use buildings next occupying 15 percent of the space.

The seller

The PincusCo database currently indicates that ARCTRUST owned at least three commercial properties in New York City with 29,819 square feet and a PincusCo-determined asset value of $15.5 million. The portfolio has $10.5 million in debt, borrowed from Ponce Bank . Within the portfolio, all identified are retail properties.

The buyer

The PincusCo database currently indicates that Susan Ting owned at least two commercial properties with 51 residential units in New York City with 68,193 square feet and a PincusCo-determined asset value of $14.3 million. The portfolio has $8.5 million in debt, borrowed from First National Bank of Long Island . Within the portfolio, the bulk, or 96 percent of the 68,193 square feet of built space are elevator properties, with D6 properties next occupying 3 percent of the space.

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