Inside the Hunts Point peninsula—the food and freight distribution engine that feeds 22 million metro-area residents—warehouses with 10,000 square feet of extra yard space next to the Bruckner Expressway rarely leave family hands. Jacobs 1260, LLC closed on the 50,000-square-foot warehouse at 1265 Oak Point Avenue on August 20, 2026 for $21.6 million ($432 per building square foot on a 60,000-square-foot lot), acquiring the property from Oak Point Bergson Realty Corp. When the deed closed on August 20, 2026, Jacobs 1260, LLC had officially taken down 1265 Oak Point Avenue from Oak Point Bergson Realty Corp. for $21.6 million, with Bronx Industrial Capital Markets brokering the trade.

At $432 a square foot across 50,000 square feet, the trade establishes a clean clearing mark for Hunts Point 50,000-sf hunts point industrial & cold-storage distribution hub assets.

Tapping the NYC Industrial Development Agency for $10.7 Million

The real tell in any Bronx closing sits on the debt side of the ledger. To fund the purchase, Jacobs 1260, LLC locked in a $10.7 million nycida tax-exempt industrial development financing from New York City Industrial Development Agency (NYCIDA) at 49.5 percent loan-to-value.

That loan commitment meant the buyers only needed to write a $10.9 million equity check to control a 1-story, 1959-vintage Hunts Point asset. Credit committees aren't stretching to 75 percent leverage anymore, but when a sponsor brings $10.9 million of real cash equity and a basis of $432 a square foot, lenders like New York City Industrial Development Agency are wide open for business.

From Our Desk

When we look at 1265 Oak Point Avenue on our placement desk at Light Tower Group, the lesson for New York sponsors comes down to the marriage of entry basis and capital structure. Jacobs 1260, LLC didn't try to fight the tape—they bought Hunts Point footage at $432 a square foot and structured the stack to match the asset's timeline. Pairing a $21.6 million Hunts Point warehouse purchase with $10.7 million in New York City Industrial Development Agency (NYCIDA) financing at 49.5 percent LTV delivers municipal mortgage-recording-tax exemptions and PILOT incentives that supercharge industrial cash-on-cash returns.