The property asset involved in this transaction is a development site located at 960 Bushwick Avenue in the Bushwick market of Brooklyn. The sale price of the property was $1,400,000, with a built square footage (BSF) of 9,234 and a price per built square foot (PPBSF) of $151. The site has a total square footage of 3,078, corresponding to a price per square foot (PPSF) of $454.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,400,000
• BSF: 9,234
• PPBSF: $151
• SF: 3,078
• PPSF: $454
• Buyer: Simon Greenfeld - SG NY Capital
• Seller: The Brown Family
• Brokers: Shaun Riney, John Lopez & Michael Salvatico - Marcus & Millichap

This transaction includes notable brokers, Shaun Riney, John Lopez, and Michael Salvatico, representing Marcus & Millichap. Earlier this year, the New York Multifamily Group also facilitated the sale of lots 962 & 976 Bushwick Avenue to Simon Greenfeld for $7,000,000. The assemblage comes with DOB Approved Plans and a 421a tax abatement, allowing for a combined 55,080 ZFA and 81 rental units. Special acknowledgment is given to the buyer's counsel, Avi and Michael Arounian Esq., for ensuring a smooth transaction.