Akilov, Edelkopf and Sejdi of EPIC Commercial Realty sell Brooklyn development site for $5 million
Brooklyn, NY EPIC Commercial Realty has completed the sale of 488 4th Ave., a residential building in the Gowanus, neighborhood.
Located on 4th Ave., between 11- St. and 12th St., this development site currently houses a three-story residential building with six vacant units. The building is built to 3,999 s/f and provides 16,920 s/f of total development rights. The site is situated two blocks from the 4th Ave. (F, G) train station, as well as access to the Brooklyn – Queens Expressway and Prospect Expressway.
EPIC Commercial Realty sold 488 4th Avenue for $5 million. Associate broker, Mark Akilov, represented the seller while CEO Yona Edelkopf and sales associate Vlora Sejdi, represented buyer.
According to Edelkopf, “Our buyer saw the tremendous development potential in the site, as the area is experiencing rapid transition. The neighborhood is up and coming with a lot of retail and residential developments around. The fact that the site sits on the border between Park Slope and Gowanus adds even more potential value to the property.”
The site sold for $295 per maximum buildable s/f.