Barone Management Acquires 99-Year Net Lease For $14M Commercial Space In Gravesend, Brooklyn

The property involved in this transaction is located at 2286 Cropsey Avenue in Gravesend, Brooklyn. It is a commercial asset and was sold in a net lease deal.

Summary of transation details

• Property Type: Commercial
• Transaction Amount: $14,000,000
• Date: 07/08/2021
• Buyer: Barone Management - Scott Barone
• Seller: W&L Group
• Market: Gravesend, Brooklyn

Barone Management, represented by Scott Barone, purchased a portion of the ground floor and the entire third floor of the building through a 99-year net lease valued at $14 million. This transaction is part of a larger mixed-use development project that spans 250,000 square feet and includes school, retail, and residential condominiums. The Barone Management is developing the future and permanent home of the Hebrew Language Academy 2 on the site.