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225 Broad Street
SOLD

Isaac Sebbag's Golden Sky Equities Acquires Development Site In Elizabeth, NJ For $2.2M

225 Broad Street

Development Site
9,800 SF
clock iconSold 1 year ago
Andrea (Dre) Nestico
Jack Drillock
Yanni Marmarou
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Summary

Sale
NEW JERSEY
Development Site
9,800 sqft

This development site located at 225 Broad St in Elizabeth, NJ has been sold for $2,200,000. The property is a development site with a lot size of 9,800 square feet and a buildable square footage of 18,000. The price per buildable square foot is $122, while the price per lot square foot is $224.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $2,200,000
  • Address: 225 Broad St, Elizabeth, NJ
  • Market: Elizabeth, NJ

The buyer of this development site is Isaac Sebbag from Golden Sky Equities. The seller of the property is Betsy Fenik. The sale was facilitated by Yanni Marmarou, Jack Drillock, and Dre Nestico from B6 Real Estate Advisors, who represented the seller. It is worth noting that this sale represents The Marmarou Team's fourth sale of a development site in the past 60 days in the Northern New Jersey market.

The property was sold "as is", with no approvals in place at the time of sale. It is situated in a qualified Opportunity Zone and is directly across the street from the downtown Elizabeth redevelopment zone. The buyer intends to transform the retail/office/warehouse space into a mixed-use rental community, complete with parking and amenity spaces.

Players

  • All

    4

  • Agents

    3

  • Agencies

    1

Andrea (Dre) Nestico's profile picture
Andrea (Dre) Nestico
Investment Property Realty Group (IPRG)-image
Associate
$56M Sold

Details

Deal Summary
minus icon
SOLD
IMAGE: Yanni Marmarou, Jack Drillock & Dre Nestico DATE: 10/28/2022 ADDRESS: 225 Broad St MARKET: Elizabeth, NJ ASSET TYPE: Development Site BUYER: Isaac Sebbag - Golden Sky Equities SELLER: Betsy Fenik SELLER'S REP: Yanni Marmarou (@ThatBrokerYanni), Jack Drillock (@JDrills21) & Dre Nestico (@Dre_Nestico) - B6 Real Estate Advisors SALE PRICE: $2,200,000 BSF: 18,000 ~ PPBSF: $122 LOT SF: 9,800 ~ PPLOTSF: $224 Note from Broker - Property sold “as is”, with no approvals in place at the time of sale. The site is located in a qualified Opportunity Zone, directly across the street from the downtown Elizabeth redevelopment zone. The buyer plans to develop and convert this Retail/office/warehouse space into a mixed-use rental community with parking and amenity spaces. This sale represents The Marmarou Team's fourth sale of a development site in the past 60 days in the Northern New Jersey market.

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Address225 Broad Street

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