Stake Property Group Acquires Development Site In Cypress Hills For $1M

A development site in Cypress Hills has been sold for $1,000,000. The property, with a building square footage of 9,900, was acquired by Stake Property Group. The sale price translates to a price per building square foot of $101. Stake Property Group, a vertically integrated real estate company, intends to file plans for a 13-unit building on the site. They will also handle construction management, design, and general contracting for the project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,000,000
• Building Square Footage: 9,900
• Price per Building Square Foot: $101
• Market: Cypress Hills

Stake Property Group, represented by its own team, will oversee the entire development process for the planned 13-unit building. They are actively looking for other existing buildings or development sites in the area. For inquiries, please email [email protected].