Jason Ruby Acquires Development Site At 46 Third Avenue From James Fong For $4.4M

This development site is located at 46 Third Avenue in Brooklyn. The sale occurred for a total of $4,400,000. The buildable square footage (BSF) of the property is 10,200, resulting in a price per buildable square foot (PPBSF) of $431. The site offers a total square footage (SF) of 4,480, with a price per square foot (PPSF) of $982.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,400,000
• Buyer: Jason Ruby
• Seller: James Fong
• Brokers: Anand Melwani & Michael Lam - Landair Advisors
• BSF: 10,200
• PPBSF: $431
• SF: 4,480
• PPSF: $982

Landair Advisors sold this corner development site along with the adjacent lots at 514 Atlantic Avenue and 48 Third Avenue in Boerum Hill. The property was sold with approved plans, and the buyer intends to develop a mixed-use condominium building that will include ground floor retail. Landair received 13 offers and secured a contract with a buyer who moved forward without a due diligence period.