Richard Lam Acquires Professional Building At 2625 Harway Avenue From Peter C. LaBella For $2.95M

2625 Harway Avenue is a professional building located in Brooklyn, having a sale price of $2,950,000. The asset encompasses a total of 6,000 square feet, which corresponds to a price per square foot of $491. Alongside the existing space, the transaction also incorporated a vacant parking lot allowing for an additional 14,336 buildable square feet.

Summary of transaction details:

• Property Type: Professional Building
• Transaction Amount: $2,950,000
• Address: 2625 Harway Avenue
• Market: Brooklyn
• Square Footage: 6,000
• Price per Square Foot: $491
• Additional Buildable Square Feet: 14,336
• Buyer: Richard Lam
• Seller: Peter C. LaBella Funeral Chapel
• Broker Representatives: Thomas Donovan, Tommy Lin & Eugene Kim - Meridian Capital Group
• Referral Source: Murano Realty

This transaction showcases the collaboration of Team Donovan, leading Meridian Capital Group's Queens investment sales division. The deal is noted as a legacy transaction from B6 Real Estate Advisors, indicating a strong professional relationship in their ongoing partnership, further evidenced by their history of successful deals together.