Steven W Lawitts Acquires Industrial Property In Bay Ridge, Brooklyn For $21M

The industrial property located at 8802 5 Avenue in Bay Ridge, Brooklyn was recently sold in a closed transaction. The asset, with a zoning classification of C8-2 and BR, offers a total building square footage (BSF) of 43,318. The purchase price for the property was $21,000,000, resulting in a price per BSF (PPBSF) of $484. The property spans over 13,862 square feet (SF), with a price per SF (PPSF) of $1,514. The lot size is measured at 21,659, with a floor area ratio (FAR) of 0.64. The previous sale of the property took place on 07/21/2017 for a price of $15,000,000. A sign permit was obtained on 08/23/2013. The lot dimensions measure 200.08 ft x 109.25 ft.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $21,000,000
• Address: 8802 5 Avenue, Bay Ridge, Brooklyn
• Market: Bay Ridge, Brooklyn
• Zoning: C8-2, BR
• Building SF: 43,318
• PPBSF: $484
• SF: 13,862
• PPSF: $1,514
• FAR: 0.64
• Tax Class: 4
• Lot Size: 21,659
• Last Sale Price: $15,000,000 (07/21/2017)
• Permits: Sign (08/23/2013)
• Lot Dimensions: 200.08 ft x 109.25 ft

The buyer in the transaction was Steven W Lawitts, while the seller was Efthimios Zisimopoulos. These key individuals played crucial roles in the deal as the buyer and seller, respectively.