ASG Equities Acquires Development Site In Bay Ridge For $14.75M

The development site located at 472 86th Street in Bay Ridge has been sold for a price of $14,750,000. The property, with a building square footage (BSF) of 19,800, is a valuable asset for the buyer, ASG Equities. The purchase was made from the Julian & Sharon Smith Family Limited Partnership.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $14,750,000
• Address: 472 86th Street
• Market: Bay Ridge
• Seller: Julian & Sharon Smith Family Limited Partnership
• Seller’s Representative: Tim King, Dominic Mascara & Dino Velovic - SVN CPEX Real Estate
• Buyer: ASG Equities
• Building Square Footage (BSF): 19,800
• Price per Building Square Foot (PPBSF): $744

The sale, facilitated by Tim King, Dominic Mascara, and Dino Velovic from SVN CPEX Real Estate, marks a significant transaction in the Bay Ridge market. The deal reflects the strong demand for development sites in the area and the confidence of ASG Equities in the potential of the property.