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Pintchik Family Sells Development Site At 358 Flatbush Avenue For $18.11M

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SOLD
$18,000,000

New York

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Development Site5,965 SF
Sold 05/19/2026
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Property Image
SOLD

Pintchik Family Sells Development Site At 358 Flatbush Avenue For $18.11M

358 Flatbush Avenue

See Similar Deals
Development Site5,965 SF
Sold 05/19/2026
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$3,017
Total Square Footage:5,965 SF
Transaction Type:Sale

358 Flatbush Avenue is a development site located in Brooklyn, sold for $18,112,109. The site encompasses 40,554 buildable square feet, resulting in a price per buildable square foot of approximately $447. It also includes 5,965 square feet of actual space, with a price per square foot of $3,036.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,112,109
  • Address: 358 Flatbush Avenue
  • Market: Brooklyn
  • Buildable Square Feet: 40,554
  • Price Per Buildable Square Foot: $447
  • Square Feet: 5,965
  • Price Per Square Foot: $3,036
  • Seller: Pintchik Family
  • Buyer & Seller's Rep: Sadya Liberow & Shariel Benshar - Asset CRG Advisors

Sadya Liberow and Shariel Benshar from Asset CRG Advisors represented the seller in this transaction. The deal was structured as a ground lease with a purchase option and included plans for a 65-unit mixed-use development. The transaction involved over 16,000 square feet of transferred air rights from neighboring properties, emphasizing the strategic value of expert broker representation in complex real estate transactions.

Players

Sadya Liberow
32 deals$124.8M volume(347) 762-4055
BROKER

Details

SOLD
IMAGE: Sadya Liberow & Shariel Benshar DATE: 5/20/2026 ADDRESS: 358 Flatbush Avenue MARKET: Brooklyn ASSET TYPE: Development Site SELLER: Pintchik Family BUYER & SELLER'S REP: Sadya Liberow (@LiberowTeam) & Shariel Benshar (@Shariel.Benshar) - Asset CRG Advisors (@AssetCRG) SALE PRICE: $18,112,109 BSF: 40,554 ~ PPBSF: $447 SF: 5,965 ~ PPSF: $3,036 BROKER'S NOTE: Asset CRG Advisors successfully facilitated the disposition of 358 Flatbush Avenue, a premier Brooklyn development site located at the crossroads of Park Slope and Prospect Heights, overlooking Grand Army Plaza and Prospect Park. The transaction was structured as a ground lease with a purchase option valued at $18.1 million, representing approximately $446 per buildable square foot. The site incorporated more than 16,000 square feet of transferred air rights from neighboring properties. Plans filed call for a 65-unit mixed-use development. This transaction highlights the importance of expert broker representation when structuring and negotiating complex transactions involving unique assets in premier locations. Asset CRG Advisors has successfully negotiated a variety of deal structures, including ground leases, preferred equity investments, joint ventures, purchase options, and traditional sales, helping owners and developers maximize value and achieve their objectives. For a consultation about your property or to learn more about this deal please contact: Sadya Liberow Phone: 646.363.6175 Email: [email protected] Shariel Benshar Phone: 718-750-1225 Email: [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20