New York, NY Schuckman Realty handled two sales totaling $4.425 million.
Schuckman Realty facilitated the sale of a 6,069 s/f lot, with a two-family home that is being redeveloped into a 39,274 s/f building. The sale price was $2.35 million. The property is located at 1367 Eastern Pwy. The seller was 1367 Eastern Parkway LLC and the buyer was Zalmen Kaufman under 1367 EP NY LLC. Permits have been filed, and there are proposed plans for a 31-unit building with the average apartment size of 1,266 s/f. The property went into contract in January, and the closing was delayed because of COVID.
“The developer opted to create larger units to meet the demand for more living space in the apartments in a post COVID world.” said Baruch Edelkopf, who was the sole broker on this transaction.
Schuckman also facilitated the sale of a 2,800 s/f, four-family building between Cypress Ave. and Wyckoff Ave. at 16-76 Jefferson Ave., in Queens. The sale price was $2.075 million. The property is located on the Ridgewood/Bushwick border, four blocks from the Myrtle Wyckoff L & M train stop and off Myrtle Ave.
Steven Hakakian of Schuckman exclusively represented the seller in the challenging environment of the COVID-19 crisis, and negotiated the sale with a buyer who was coming out of a 1031 exchange, achieving $741 per s/f on a four-family building.
“The buyer was excited about the location of the property, he saw that his tenants could take advantage of both neighborhoods and still be a short commute away from Manhattan,” said Hakakian.