Borshch and Pena of Berko and Associates represent Fimida in $2 million Sunset Park building sale

Lenny Borshch, Berko and Associates

3918-3920 3rd Avenue (between 39th and 40th Streets) - Brooklyn, NY

Augustine Pena, Berko and Associates

Brooklyn, NY According to Fimida Enterprises, it has purchased a four-story mixed-use building in Sunset Park next to the borough’s Industry City area, a 16-building, six million s/f complex on the waterfront.

The 6,752 s/f building at 3918-3920 3^rd Ave. between 39^th and 40^th Sts. features six residential apartments and two retail spaces. The sales price was $2 million.

The seller was a long-term owner. Lenny Borshch and Augustine Pena of Berko and Associates represented Fimida and the seller in the off-market sale that closed August 10^th.

“This neighborhood is changing every day,” said Daniel Figotin, principal of Fimida. “The easy access to Manhattan, Industry City and all that has to offer makes this buy a great investment.”

Figotin said Fimida is actively looking to buy more properties in all asset classes in the Greenwood/Sunset Park section.

Figotin joins other developers in the area who are renovating the massive Industry City office complex in Sunset Park building a 1,200-ft.-long retail hub. The development team of Jamestown, Belvedere Capital and Angelo, Gordon & Co. — invested $8 million in constructing “Innovation Alley,” a corridor of 125,000 s/f of retail space that runs from 37th to 33rd Sts. between Second and Third Aves.

The retail hub is expected to be completed next year, though some tenants have already moved into the completed sections. Rents along the alley run from $35 to $80 per s/f

Also in April, Gap Inc. revealed it would lease 20,000 s/f in Building 4 of the complex.

Fimida Enterprises is a NY based investment, development and management company that is currently building a ground up 21-story affordable luxury Upper East Side condominium designed by architect Karl Fisher on East 96th Street, close to the new Second Avenue subway express station.

Fimida also owns and manages multifamily, retail and mixed-use buildings in Brooklyn and out of state.