Ray Knights Purchases Development Site At 456 Ovington Avenue In Brooklyn For $1.875M

This development site is located at 456 Ovington Avenue in Brooklyn, featuring a sale price of $1,875,000. The site boasts a building square footage (BSF) of 18,000, translating to a price per building square foot (PPBSF) of $104. The total square footage (SF) is recorded at 9,260, resulting in a price per square foot (PPSF) of $202.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,875,000
• BSF: 18,000
• PPBSF: $104
• SF: 9,260
• PPSF: $202
• Buyer: Ray Knights
• Seller: Bill Soued & George Soued
• Buyer's Representative: David J. Nazaire - Triforce Commercial Real Estate
• Seller's Representatives: Andrew Manasia & Tom Horrigan - Terra CRG
• Brokers: Jakub Nowak & Jesse Kay - Marcus & Millichap

This transaction illustrates a collaborative effort among professionals in the real estate community. The not-for-profit secured financing for the acquisition and development of this site, marking the culmination of several years of collaborative work. Congratulations to everyone involved in this successful transaction.