Ryan Nelson Acquires Industrial Property In Canarsie, Brooklyn For $11.25M

The industrial property located at 300 De Witt Avenue & 897 Van Sinderen Avenue in Canarsie, Brooklyn was recently sold in a closed transaction. The property is zoned as M1-1 and has an area of 45,000 square feet. The sale took place on December 22, 2021, with a purchase price of $11,250,000. The building has a total square footage of 89,396, resulting in a price per square foot of $125. The price per buildable square foot is $250, and the lot size measures 45,000 square feet with dimensions of 180 ft x 250 ft. The property is classified under tax class 4 and a full demolition permit was issued on December 10, 2021.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $11,250,000
• Market: Canarsie, Brooklyn
• Zoning: M1-1
• Building Square Footage: 89,396
• Price per Square Foot: $125
• Lot Size: 45,000 square feet
• Permits: Full Demolition (12/10/2021)
• Lot Dimension: 180 ft x 250 ft

The buyer in this transaction is Ryan Nelson, while Sandy Marks is the seller. The property was purchased at a price of $11,250,000, and the buyer acquired a total square footage of 89,396. The seller, Sandy Marks, represented themselves in this deal. The transaction had a floor area ratio (FAR) of 0.99 and the property is classified under tax class 4.