Maimonides Medical Center Acquires School Building In Borough Park, Brooklyn For $14.5M

The school building located at 4706 10th Avenue in Borough Park, Brooklyn, has been sold. Maimonides Medical Center purchased the property from Yeshivath Toldos Yakov of Papa for a total of $14.5 million. The deal was finalized on September 7, 2023. Offering a total of 23,133 square feet of built space, the property was sold for approximately $626 per square foot.

Summary of transaction details:

• Property Type: School
• Transaction Amount: $14,500,000
• Address: 4706 10th Avenue, Borough Park, Brooklyn
• Market: Borough Park, Brooklyn
• Buyer: Kenneth Gibbs - Maimonides Medical Center
• Seller: Solomon Weber - Toldos Yakov
• Square Footage: 23,133
• Price per Square Foot: $626

Maimonides Medical Center emerged as the buyer for the school building, while Solomon Weber of Toldos Yakov represented the seller. The acquisition of this property by Maimonides Medical Center signifies a significant investment in the Borough Park area.