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RockroseNY Elghanayan Family Acquires Fort Greene Development Site For $60M

Property Image
SOLD
$60,000,000
Robert (Bob) Knakal
Stephen Palmese
Justin Elghanayan
+ 1

New York

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Development Site195,842 SF
Sold 01/20/20
the dealplayerscompscontact
Property Image
SOLD

RockroseNY Elghanayan Family Acquires Fort Greene Development Site For $60M

98 Dekalb Avenue, Fort Greene, Brooklyn, NY, USA

See Similar Deals
Development Site195,842 SF
Sold 01/20/20
Robert (Bob) Knakal
Stephen Palmese
Justin Elghanayan
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$306
Total Square Footage:195,842 SF
Transaction Type:Sale

Rockrose Development Corp, owned by the Elghanayan family, has acquired a development site in Fort Greene for the price of $60 million. The property, located at 98 Dekalb Avenue & 104 Dekalb Avenue, is a development site with a buildable square footage (BSF) of 195,842. The purchase price per buildable square foot (PPBSF) amounts to $306.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $60,000,000
  • Address: 98 Dekalb Avenue & 104 Dekalb Avenue
  • Market: Fort Greene

The sale was brokered by Bob Knakal and Stephen Palmese from JLL. The seller, Barnes-Kotler Ford, was represented by Robert Kotler. The transaction took place on January 21st, 2020.

It is worth noting that additional air rights may contribute to the land acquisition costs, potentially increasing the total amount to $75 million.

Players

Robert (Bob) Knakal
BK Real Estate Advisors
Robert Knakal
64 deals$3.2B volume(907) 509-9501
BROKER
Stephen Palmese
JLL
Stephen Palmese
84 deals$3.3B volume(212) 376-1228
BROKER
Justin Elghanayan
Justin Elghanayan
7 deals$475.2M volume
BUYER
RK
Robert Kotler
2 deals$122M volume
SELLER

Details

SOLD
IMAGE: Bob Knakal, Stephen Palmese, Henry Elghanayan & Justin Elghanayan DATE: 01/21/2020 ADDRESS: 98 Dekalb Avenue & 104 Dekalb Avenue MARKET: Fort Greene ASSET TYPE: Development Site BUYER: @RockroseNY Elghanayan family SELLER: Barnes-Kotler Ford - Robert Kotler BROKERS: Bob Knakal & Stephen Palmese @JLL NOTES: Additional air rights could increase the land acquisition costs to $75 million PRICE: $60,000,000 BSF: 195,842 ~ PPBSF: $306

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