Yelena Vaynshteyn Acquires Retail Property In Midwood, Brooklyn For $12.25M

The property involved in this transaction is a retail asset located at 1702 East 9th Street in the Midwood neighborhood of Brooklyn. The property has a total square footage of 45,461, and is zoned as C4-2, OP. The lot size is 15,840 square feet with dimensions of 103.03 ft x 170.82 ft. The property has a floor area ratio (FAR) of 2.87 and falls under tax class 4. The last recorded sale price for this property was $20,000,000 on April 4, 2019. However, in this current transaction, the property was sold for a price of $12,250,000, reflecting a significant decrease in value.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $12,250,000
• Market: Midwood, Brooklyn
• Zoning: C4-2, OP
• Buyer: Yelena Vaynshteyn
• Seller: Netanel Jacobov
• Square Footage: 45,461
• Price Per Square Foot: $269

In this transaction, Yelena Vaynshteyn acted as the buyer, while Netanel Jacobov served as the seller. The property was sold at a price of $12,250,000, with a price per square foot of $269. This represents a decrease in value compared to the previous sale price of $20,000,000 recorded on April 4, 2019. The property's market, Midwood in Brooklyn, is a vibrant location for this retail asset. The individuals involved in this deal are instrumental in shaping the outcome of the transaction.