A development site located at 507 Nostrand Avenue in Brooklyn has been sold for $4,600,000. The property, situated in the market of Brooklyn, offers significant potential for future development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,600,000
• Address: 507 Nostrand Avenue, Brooklyn
• Buyer: Gemal Saeidi
• Brokers: Jakub Nowak & Thomas Brennan - Marcus & Millichap

Jakub Nowak and Thomas Brennan from Marcus & Millichap represented the buyer, Gemal Saeidi, in this transaction. Their extensive knowledge of the marketplace and strong relationships enabled them to effectively identify potential purchasers for the property and successfully negotiate the deal on behalf of their client.

Client Testimonial: "Delta Kappa Realty Corp. benefited from the strategic and practical advice Jakub Nowak and his team at Marcus & Millichap provided for a number of years leading up to Delta Kappa’s engaging Jakub and team this year on an important transaction for the company. Jakub and his team know the marketplace inside and out and deployed their extensive relationships to do an excellent job of identifying potential purchasers for the property and managing the brokerage negotiations to completion."

To speak with Jakub Nowak or Thomas Brennan from Marcus & Millichap about the unique challenges involved in selling your commercial property, please contact them directly at 718-475-4353 and 718-475-4326, respectively.