Joseph Lichtman Purchases Mixed-Use Property In Prospect-Lefferts-Gardens For $1.3M - IPRG Brokers Involved

The mixed-use property located at 1193 Nostrand Ave. in Prospect-Lefferts-Gardens has been sold in a transaction facilitated by Investment Property Realty Group (IPRG). The property was sold for a price of $1,300,000. The property spans a total area of 3,300 square feet, resulting in a price per square foot of $393.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $1,300,000
• Address: 1193 Nostrand Ave., Prospect-Lefferts-Gardens
• Market: Prospect-Lefferts-Gardens

The buyer in this transaction is Joseph Lichtman, while the seller is Dorothy Hutchinson. The deal was negotiated by Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davila from Investment Property Realty Group (IPRG).

It is worth mentioning that the property was delivered vacant. The location on Nostrand Ave., a wide street, is zoned R6 with an FAR of 3, allowing for an additional 2,700 square feet of redevelopment potential.