Brooklyn, NY According to EMH Commercial Realty, Heshie Goldfein and Sadya Liberow have completed the sale of an assemblage on New York Ave. in the borough’s East Flatbush neighborhood.

The four properties transacted represent a total of 160 ft. of frontage on New York Ave. between Glendwood Rd. and Ave. H with total residential development rights of 49,200 s/f. The blended price per buildable s/f was $94 ($4.625 million).

Each property was sold separately with the earliest transaction in August 2016. Goldfein and Liberow came on the scene after they closed on 1610 New York Ave. in February 2017.  They then began discussions with the owners of 1620 New York Ave., 1626 New York Ave. and the investors behind 1622 New York Ave. 

East Flatbush has seen a major uptick in development as developers are building next to Brooklyn College and the Triangle Junction which houses major retail tenants like Target, Starbucks the Nike outlet and Dallas Bar BBQ.  As neighborhoods like Crown Heights, Prospect Lefferts Garden are growing higher in demand, developers are looking to East Flatbush to build housing and cater to the demand of the growing rental market in this neighborhood. The B, Q, 2 & 5 trains act as the local public transportation links for the area.

“It is all about identifying a trend and working hard to bring value to the transaction” said Goldfein.  

“We have seen a lot of success in identifying under-built properties and helping to educate ownership the advantages that our investors bring to the table” said Liberow.

EMH Commercial Realty sold 1626 New York Ave. Goldfein and Liberow represented the buyer and the seller.