Moses Rabinovits Purchases Development Site At 995 President Street In Brooklyn For $2.5M

The property involved in the transaction is a development site located at 995 President Street in Brooklyn. The sale was concluded at a price of $2,500,000, with a building square footage of 9,825 and a price per building square foot of $254. The site has a total square footage of 3,275 and a price per square foot of $763.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $2,500,000
• Buyer: Moses Rabinovits
• Buyer's Representative: Jason Abrishami & Jerry Minsky - Douglas Elliman
• Original Asking Price: $3,195,000
• Discount from Original Price: $695,000
• Market: Brooklyn
• BSF: 9,825
• PPBSF: $254
• SF: 3,275
• PPSF: $763

The transaction was facilitated by the MINSKY | ABRISHAMI Team at Douglas Elliman, who successfully identified the opportunity for the buyer after nearly five years of unsuccessful attempts to sell the site. The team adeptly handled negotiations, reflecting their continued expertise in development-site sales and off-market transactions throughout New York City.