Bushwack Capital Acquires Development Site In East Williamsburg For $12.3M

A development site located at 25 Stewart Avenue in East Williamsburg, with a lot size of 42,166 square feet, has been sold for a price of $12,271,500. The property is zoned M1-2, allowing for commercial use, and has a floor area ratio (FAR) of 2. The last recorded sale of this property was on December 24, 2020, for a price of $3,000,000. It also received permits for alteration on July 13, 2017. The lot dimensions are 119.92 ft x 297.68 ft.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,271,500
• Market: East Williamsburg
• Zoning: M1-2
• Lot Size: 42,166 sq ft
• FAR: 2 (Commercial)
• Last Sale Price: $3,000,000 (12/24/2020)
• Permits: Alteration 3 (07/13/2017)
• Lot Dimensions: 119.92 ft x 297.68 ft

The buyer of the property is Bushwack Capital, while the seller is J. Stewart Realty LLC.