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

Property Image
SOLD
$12,800,000
Lawrence Sarn
Shimon Shkury
Sean R. Kelly, Esq.
+ 2

New York

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Development Site
Sold 05/23/2023
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Property Image
SOLD

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

2251 Nostrand Ave. Brooklyn, NY 11210, USA

See Similar Deals
Development Site
Sold 05/23/2023
Lawrence Sarn
Shimon Shkury
Sean R. Kelly, Esq.
+ 2
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

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.

Players

Sean R. Kelly, Esq.
Ariel Property Advisors
Sean R. Kelly, Esq.
56 deals$529.8M volume
BROKER
Shimon Shkury
Ariel Property Advisors
Shimon Shkury
55 deals$1.7B volume
BROKER
Lawrence Sarn
Ariel Property Advisors
Lawrence Sarn
9 deals$129.7M volume
BROKER
SH
Steven Hurwitz
3 deals$19.6M volume
BUYER
Elliott J. Chehebar
Jackson Group
Elliott J. Chehebar
12 deals$228.7M volume
SELLER

Details

SOLD
IMAGE: Elliott Chehebar, Sean R. Kelly, Shimon Shkury, Lawrence Sarn & Steven Hurwitz DATE: 05/23/2023 ADDRESS: 2251 Nostrand Avenue MARKET: Midwood ASSET TYPE: Development Site SELLER: Elliott Chehebar - The Jackson Group BUYER: Steven Hurwitz - CAVU Property Group BROKERS: Sean Kelly, Lawrence Sarn & Shimon Shkury - Ariel Property Advisors (@Arielpa.NYC) SALE PRICE: $12,800,000 BSF (as of right): 75,000 ~ PPBSF: $170.66 BSF (with community facility): 91,969

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