Real Estate Discovery Ventures Buys Retail Building In Coney Island For $23M | 2857 W 8th St | Richard (Rich) Velotta, David Schechtman, Glenn Teyf | Office | Sale

Summary

Sale

NEW YORK

Office

The retail building located at 2857 W 8th St in Brooklyn, NY 11224 has been sold for $23,000,000. The property, purchased by Real Estate Discovery Ventures from 2857 West 8th Street Associates, is fully occupied by retail tenants which include New York City Human Resources, Blink Fitness, NYU Langone, Verizon Wireless, and Dollar Tree.

Summary of transaction details:

Property Type: Retail Building
Transaction Amount: $23,000,000.00
Market: Brooklyn
Buyer: Real Estate Discovery Ventures
Seller: 2857 West 8th Street Associates
Buyer's Rep: Glenn Teyf (Gideon Group)
Seller's Rep: Richard (Rich) Velotta (Raven Property Advisors), David Schechtman (Meridian Capital Group)
Brokers: Richard (Rich) Velotta (Raven Property Advisors)

Real Estate Discovery Ventures was represented by the Glenn Teyf of Gideon Group in the purchase of the retail building. Dmitry Volkov, a Moscow native, runs Real Estate Discovery Ventures and the company claims to own $95 million worth of properties across the U.S. The financing for the deal amounting to $14.3 million was provided by Citigroup. Additionally, Reznick Law provided legal advice to REDV during the transaction.

Players

All
6

Agents
3
Agencies
3

Richard (Rich) Velotta

Founder & CEO

$192.5M Sold

David Schechtman

Senior Executive Managing Director

$1.4B Sold

Glenn Teyf

President

$23M Sold

Raven Property Advisors

Meridian Capital Group

Gideon Group

Details

Deal Summary

SOLD

IMAGE: 2018-03-30 00:00:00 -0700 ADDRESS: 2857 W 8th St, Brooklyn, NY, 11224 MARKET: Brooklyn BUYER'S REP: Glenn Teyf(Gideon Group) SELLER'S REP: Richard (Rich) Velotta(Raven Property Advisors), David Schechtman(Meridian Capital Group) BROKERS: Richard (Rich) Velotta(Raven Property Advisors) BUYER: Real Estate Discovery Ventures SELLER: 2857 West 8th Street Associates PRICE: $23,000,000.00.00 NOTE: Real Estate Discovery Ventures, an investment fund, has purchased a retail building in Coney Island for $23 million. The company bought 2857 West 8th Street from an LLC called 2857 West 8th Street Associates, according to sources familiar with the deal. The signatory on the LLC is listed as Steven Samuels. The building is 100 percent occupied, with retail tenants including New York City Human Resources, Blink Fitness, NYU Langone, Verizon Wireless and Dollar Tree. REDV, which financed the deal with $14.3 million from Citigroup, plans to keep the building as is. Gideon Group’s Glenn Teyf represented the buyer, while Meridian Capital Group’s David Schechtman and Richard Velotta represented the seller. Reznick Law advised REDV on the deal. Moscow native Dmitry Volkov runs Real Estate Discovery Ventures, which claims on its website to own $95 million worth of properties across the U.S, including an office condo at 55 East 59th Street. Coney Island Hospital recently filed plans for a massive new building at 2619 Ocean Parkway,and John Catsimatidis’ Red Apple Group is planning a 425-unit mixed-use project in the neighborhood called Ocean Dreams that will feature a trolley car taking tenants to the subway.

View on map

Address2857 W 8th St

Comparables

This user does not have deals with the selected filters yet.
Reset filters to show results.

Contact

Get in touch with the broker you want