Ulaj Family Purchases Development Site At 5073 Broadway Inwood From Esmail Sulaiman For $3.1M

The property involved in this transaction is a development site located at 5073 Broadway in the Inwood market. The sale price for the property was $3,100,000. The building features a total square footage of 5,000 with a price per square foot of $620. The as-of-right buildable square footage (BSF) is 21,000, with a price per buildable square foot (PPBSF) of $147. Additionally, the property has a maximum inclusionary housing BSF of 28,000 and a corresponding PPBSF of $110. It was delivered vacant and is situated within a Mandatory Inclusionary Housing Area.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,100,000
• Buyer: Ulaj Family
• Seller: Esmail Sulaiman
• Broker: Robert Rappa - Investment Property Realty Group (IPRG)
• Building Square Footage: 5,000
• Buildable Square Footage (As-of-Right): 21,000
• Buildable Square Footage (MIH): 28,000

The transaction featured key individuals including the buyer, Ulaj Family, and seller, Esmail Sulaiman. The broker representing this transaction was Robert Rappa from Investment Property Realty Group (IPRG), facilitating the sale on behalf of the parties involved.