Concern Housing Acquires Development Site In East New York For $4.4M By Buyer & Seller Rep Shay Zach

The development site located at 2602 Pitkin Ave. in East New York has been sold for a total of $4,375,000. The property, which includes air rights, was purchased by Concern Housing from the Ahdoot Family. The site spans a total of 54,000 square feet and is zoned for R7A, C2-4, and EC-5 development. The sale price equates to $81 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,375,000
• Address: 2602 Pitkin Ave.
• Market: East New York
• Zoning: R7A, C2-4, EC-5
• Buyer: Concern Housing
• Seller: Ahdoot Family
• Broker: Shay Zach - (Buyer & Seller Rep) @GPGNYC
• Asking Price: $4,600,000
• Building Square Footage: 54,000
• Price per Square Foot: $81

Shay Zach of GPGNYC represented both the buyer and seller in the transaction. For more information, interested parties can contact Shay Zach at 212-359-5060 or via email at [email protected].