Steven Hurwitz Of CAVU Property Group Acquires Development Site In Midwood From Elliott Chehebar Of The Jackson Group For $12.8M

The development site located at 2251 Nostrand Avenue in Midwood has been sold for a price of $12,800,000. The property consists of a development site with a buildable square footage (BSF) of 75,000 as of right, with a PPBSF (price per buildable square foot) of $170.66. Additionally, the property has a community facility, which brings the total BSF to 91,969.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $12,800,000
• Address: 2251 Nostrand Avenue
• Market: Midwood

The seller of this development site is Elliott Chehebar, representing The Jackson Group. The buyer is Steven Hurwitz of CAVU Property Group. The transaction was facilitated by brokers Sean Kelly, Lawrence Sarn, and Shimon Shkury from Ariel Property Advisors.