Zamir of GFI reps the buyer and seller in $3.45 million sale
GFI Realty Services Inc., has arranged the sale of 394-398 Myrtle Ave., a listing in the Fort Greene section of the city, for $3.45 million. The 4,800 s/f single story commercial building sold for $719 per s/f. The property also has 14,000 s/f in additional air rights which can be used for future development. Kobi Zamir, an associate of GFI, represented the buyer and seller in this transaction.
"The property is on a heavily trafficked commercial corridor in Fort Greene," said Kobi Zamir. "The new owners are excited about the great potential of this property from the ability to split the commercial into three separate spaces to developing the site utilizing the additional 14,000 buildable s/f."
This commercial building is located near Chase Bank, Carver Bank, The BQE and the Fort Greene Park.
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The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account