Mark Chulpayev Acquires Development Site In East New York For $4.5M

A development site located at 2745 & 2749-2755 Atlantic Avenue in East New York has been sold. The property, listed by Matthew Peters, is a development site in a prime location. The sale was completed on January 28, 2022, and the transaction amount was $4,527,500. The property has a buildable square footage (BSF) of 73,350 with MIH (Mandatory Inclusionary Housing) and a price per buildable square footage (PPBSF) of $62. Without MIH, the BSF is 61,550 with a PPBSF of $74.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,527,500
• Address: 2745 & 2749-2755 Atlantic Avenue
• Market: East New York

The buyer is Mark Chulpayev, and the sellers are Stephen & Mitch Brown. Matthew Peters, from The Peters Team at Marcus & Millichap, represented the transaction as the broker. The deal was facilitated smoothly, and all parties involved successfully closed the transaction.