New Empire Real Estate Acquires Development Site In Prospect Lefferts Gardens For $18M

757-767 Flatbush Avenue

$18,000,000

$168/SF

Building Size

106,774 SF

Asset Type

Development Site

Closing

Oct 24, 2022

AI

New Empire Real Estate has acquired a development site located at 757-767 Flatbush Avenue in Prospect Lefferts Gardens. The property, situated in a vibrant market, offers significant potential for future development.

Summary of transaction details

Property Type: Development Site
Date: 10/24/2022
Address: 757-767 Flatbush Avenue
Market: Prospect Lefferts Gardens
Buyer: New Empire Real Estate
Brokers: Steven Rutman, Stephen Palmese, Michael Mazzara, Pat Madigan & Jonathan Faxon - JLL
Sale Price: $18,000,000
BSF (Building Square Footage): 106,774
PPBSF (Price Per Building Square Foot): $169

The deal was facilitated by the brokers involved, including Steven Rutman, Stephen Palmese, Michael Mazzara, Pat Madigan, and Jonathan Faxon of JLL. Their expertise and negotiation skills contributed to the successful completion of the transaction.

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