Baron Steel Fabricators Acquires Development Site In Greenwood Heights, Brooklyn For $1.47M

The development site located at 688 6th Avenue in Greenwood Heights, Brooklyn has been sold in a recent transaction. The property, which is zoned as R6B, was purchased by Baron Steel Fabricators from the Ryan Family. The deal was facilitated by brokers Adam Lobel and Toby Waring from Bestreich Realty Group. The sale price for the property was $1,475,000. The development site has a building square footage (BSF) of 5,034, resulting in a price per building square footage (PPBSF) of $293.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $1,475,000
• Address: 688 6th Avenue, Greenwood Heights, Brooklyn
• Market: Greenwood Heights, Brooklyn
• Zoning: R6B
• Buyer: Baron Steel Fabricators
• Seller: Ryan Family
• Brokers: Adam Lobel & Toby Waring - Bestreich Realty Group

Adam Lobel and Toby Waring from Bestreich Realty Group played a crucial role in facilitating the transaction between the buyer, Baron Steel Fabricators, and the seller, Ryan Family. The development site is situated in the vibrant neighborhood of Greenwood Heights, Brooklyn. The deal concluded on December 11, 2020, and the property boasts an impressive BSF of 5,034. The low PPBSF of $293 further adds to the attractiveness of this investment opportunity.