Wildflower pays $10.8M for three properties in Hunts Point

Wildflower LTD through the entity Wf Industrial Ix LLC paid $10.8 million to the DiCola family’s 745 Whittier Street LLC for industrial (G1) at 745 Whittier Street in Hunts Point, Bronx, industrial (Z9) at 1340 Lafayette Avenue in Hunts Point, Bronx, and development site (V1) at 749 Whittier Street in Hunts Point, Bronx.
The deal closed on June 2, 2021 and was recorded on July 14, 2021.
The contract date was July 10, 2020. PincusCo reported on the transaction in December when Wildflower recorded the contract of sale.
The three properties have 9,600 square feet of built space and 100,400 square feet of additional air rights for a total buildable of 110,000 square feet according to PincusCo analysis of city data. The sale price per buildable square foot is $97 per the PincusCo analysis.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $20,000. One of the projects were to change the building from a COM to a S-1 and were permitted on May 14, 2021.
Within a 400-foot radius of 1340 Lafayette Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on March 3, 2020 for the $5.2 million renovation of 34,350-square-foot R-2 building with 39 residential units at 1315 Lafayette Avenue.
One of those two items was a loan which Isaac Gutman borrowed $7.7 million from Sterling National Bank secured by the 42,900-square-foot, 47-unit rental (C7) on 769 Bryant Avenue on June 16, 2020.

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