Murray McCabe Acquires Retail Property On Atlantic Avenue In East New York For $17M

The retail property located at 2700 Atlantic Avenue in East New York has been sold for a total price of $17,000,000. The property spans 10,460 square feet and has a price per square foot (PPSF) of $1,625. The building's floor area ratio (FAR) is 1.00, and its tax class is 4. The lot size is also 10,460 square feet. The previous sale of the property took place on May 30, 2018, at a price of $11,500,000. A full demolition permit was issued on August 11, 2021. The lot dimensions measure 100 feet by 106.08 feet.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $17,000,000
• Market: East New York
• Zoning: M1-4/R8A, MX-16/EC-5
• Buyer: Murray McCabe
• Seller: Joel Schwartz
• BSF: 62,969
• PPBSF: $269

Murray McCabe has purchased the property from Joel Schwartz. The sale price of $17,000,000 reflects a price per square foot (PPSF) of $1,625. The buyer and seller were represented by their respective brokers in the deal.