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Yili Teng Acquires Industrial Building In Greenwood Heights Brooklyn For $4.7 Million From Scutum North America

Property Image
SOLD
$4,700,000

New York

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Industrial9,680 SF
Sold 04/30/2026
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Property Image
SOLD

Yili Teng Acquires Industrial Building In Greenwood Heights Brooklyn For $4.7 Million From Scutum North America

703 3rd Avenue

See Similar Deals
Industrial9,680 SF
Sold 04/30/2026
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$485
Total Square Footage:9,680 SF
Transaction Type:Sale

The industrial building located at 703 3rd Avenue in Greenwood Heights, Brooklyn, has been sold for a total of $4,700,000. The property measures 9,680 square feet, resulting in a price per square foot of $486. This sale marks the transfer of ownership from Scutum North America, which has been the long-time owner-occupant of the site.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,700,000
  • Address: 703 3rd Avenue
  • Market: Greenwood Heights, Brooklyn
  • Square Footage: 9,680
  • Price per Square Foot: $486
  • Buyer: Yili Teng
  • Seller: Michael Vitarelli - Scutum North America

Yili Teng, representing 703 3rd Ave Bk LLC, completed the acquisition of the property from Michael Vitarelli, underscoring a significant shift in ownership for the site previously held by Scutum North America. The transaction reflects a strategic decision by the seller, marking the end of its long-term occupancy at this location.

Players

MV
Scutum North America
Michael Vitarelli
1 deal$4.7M volume
SELLER

Details

SOLD
IMAGE: Michael Vitarelli DATE: 04/30/2026 ADDRESS: 703 3rd Avenue MARKET: Greenwood Heights, Brooklyn ASSET TYPE: Industrial BUYER: Yili Teng SELLER: Michael Vitarelli - Scutum North America SALE PRICE: $4,700,000 SF: 9,680 - PPSF: $486 NOTE: Yili Teng, through 703 3rd Ave Bk LLC, acquired the industrial building at 703 3rd Avenue in Brooklyn from Scutum North America for $4.7 million, ending the company’s long-time owner-occupancy of the site.

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