Development Site At 749 Van Sinderen Avenue Sold For $7.05 Million In East New York

The transaction involved a development site located at 749 Van Sinderen Avenue within the East New York market. The sale price was recorded at $7,050,000, with a building square footage of 103,500 and a price per square foot of $68.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,050,000
• Building Square Footage: 103,500
• Price Per Square Foot: $68
• Seller's Representative: Sean R. Kelly, Esq., Stephen Vorvolakos & Gabriel Elyaszadeh - Ariel Property Advisors
• Buyer's Representative: Joshua Malekan - Bridge Advisory Group

This sale marks the 10th development site sold by Ariel Property Advisors this year, with an additional four properties currently in contract and multiple active deals in progress. The firm has managed transactions totaling approximately 885,000 BSF and nearly $200 million sold or in contract across Brooklyn and Queens during 2025.