WestBridge Capital Acquires Development Site At 45 Belmont Avenue In Brooklyn For $7.25M

The transaction involved a development site located at 45 Belmont Avenue, Brooklyn. The sale was finalized for a price of $7,250,000. This property features a building square footage (BSF) of 87,719 and a price per building square foot (PPBSF) of $82. Additionally, the total square footage (SF) is recorded at 26,864 with a price per square foot (PPSF) of $269.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,250,000
• Buyer: WestBridge Capital
• Seller: Russ Fedele
• Broker: Nathan Horne - Compass
• BSF: 87,719
• PPBSF: $82
• SF: 26,864
• PPSF: $269

Nathan Horne from Compass represented the seller, Russ Fedele, in this transaction. This deal is noted as the closing of the Osborn-Belmont Assemblage, which consists of a 22,500 SF lot with approximately 88,000 BSF in Brownsville. This closing follows an earlier transaction on the same block where a site with 105,000 BSF closed at $8.75 million. Congratulations were extended to the seller, recognizing their long-term ownership of the properties involved.