Michael Berfield Acquires Shopping Center In Gravesend, Brooklyn For $11.1M

Located at 1608 Shore Parkway in Gravesend, Brooklyn, this transaction involved the sale of a shopping center with M3-1 zoning. The property spans a total building size of 1,940,000 square feet, yielding a price per square foot of $6. With a total area of 290,400 square feet, the sale price amounted to $11,084,675. The lot size is approximately 970,000 square feet, with dimensions of 822.83 feet by 1590 feet. The previous sale of the property took place on July 10, 2021, at a price of $2,450,000. The property falls under tax class 4 and has a floor area ratio (FAR) of 0.30.

Summary of transaction details

• Property Type: Shopping Center
• Transaction Amount: $11,084,675
• Buyer: Michael Berfield
• Seller: Maria D Cirillo
• Price per Square Foot: $6
• Lot Size: 970,000 square feet
• Last Sale Price: $2,450,000 (07/10/2021)
• Lot Dimensions: 822.83 ft x 1590 ft

The buyer in this transaction was Michael Berfield, while Maria D Cirillo acted as the seller. This deal marks a significant transaction in the Gravesend, Brooklyn market, with the property serving as a shopping center with M3-1 zoning. The transaction showcases the demand for commercial properties in the area and highlights the involvement of key individuals in the market.