Zhi Xiang Purchases Development Site From Angelo Vasquez In Brooklyn For $1.7M

The property involved in the transaction is a development site located at 1300 Bushwick Avenue in Brooklyn. The sale was completed for $1,700,000. The property consists of 3 units with a total building square footage of 3,969. The site has a lot size of 35 x 82 feet, resulting in a building square footage ratio of 8,626 and a price per building square foot of $197.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,700,000
• Buyer: Zhi Xiang
• Seller: Angelo Vasquez
• Brokers: Joshua Malekan & Roy Oskar - Bridge Advisory Group
• Units: 3
• Building Square Footage: 3,969
• Price per Square Foot: $428
• Lot Size: 35 x 82 feet

The deal included representation by Joshua Malekan and Roy Oskar from Bridge Advisory Group, who facilitated the transaction for both the buyer and seller. The brokers are currently seeking more vacant 3-5 family properties in Northwestern Brooklyn, including mixed-use and value-add opportunities, and are open to examining various types of deals across Manhattan.