Arch Companies Acquires Development Site In Sheepshead Bay, Brooklyn For $22.3M

A development site located at 1633 East 16th Street in Sheepshead Bay, Brooklyn, has been sold for a total of $22,349,478. The property, which covers 31,301 square feet, was sold by AB Capstone, represented by Meir Babaev, to Arch Companies, represented by Jeffrey Simpson.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $22,349,478
• Address: 1633 East 16th Street
• Market: Sheepshead Bay, Brooklyn
• Buyer: Arch Companies (represented by Jeffrey Simpson)
• Seller: AB Capstone (represented by Meir Babaev)
• BSF: 31,301
• Price per BSF: $714

The deal involved the buyer, Arch Companies, and the seller, AB Capstone. Arch Companies was represented by Jeffrey Simpson, while AB Capstone was represented by Meir Babaev. The development site, located at 1633 East 16th Street in Sheepshead Bay, Brooklyn, offers a total of 31,301 square feet of space. The transaction was completed at a price of $22,349,478, with a price per BSF of $714.