Metropolitan Transportation Authority Acquires 1590 Bedford Avenue Retail For $25.3M In Crown Heights

The Metropolitan Transportation Authority (MTA) has acquired a repair shop in Crown Heights, Brooklyn, which it had leased for 25 years, for $25.3 million from former owner President Maintenance, affiliated with Taormina Holding's Joseph Taormina. The property, located at 1590 Bedford Avenue, spans 57,000 square feet, valued at $444 per square foot.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $25,300,000
• Buyer: Janno Lieber - Metropolitan Transportation Authority
• Seller: President Maintenance
• Address: 1590 Bedford Avenue
• Market: Crown Heights, Brooklyn
• Square Footage: 57,000
• Price per Square Foot: $444

Janno Lieber represented the Metropolitan Transportation Authority (MTA) in the acquisition deal, purchasing the retail property from President Maintenance. The sale marked a significant transaction in Crown Heights, Brooklyn, involving key individuals such as Joseph Taormina from Taormina Holding's affiliation with the former owner.