Real Estate Weekly | April 26, 2018
• The $4.31 million sale of 662 Madison Street, a gut-renovated nine-unit apartment building in Bedford-Stuyvesant. Zachary Fuchs represented both the buyer, The Oved Group, and the seller, Mendel Gold, in the transaction. The 10,160 s/f building is composed of six four-bedroom units and three five-bedroom units, all of which have two bathrooms.
• The $1.75 million sale of 196 Russell Street, a three-unit multifamily building located in the Greenpoint section of Brooklyn. The property, which was constructed in 1910, totals 3,135 s/f. Sasha Berg represented both the buyer and the seller in the transaction. The buyer will be living in one of the units, but he plans to rehabilitate the entire building and lease out the other apartments at market rates.
• The $4.3 million sale of 21-01 21st Street, a 24,000 s/f development site in the Astoria section of Queens. Josh Orlander represented the seller, and Joseph Landau represented the buyer. Both the buyer and seller are local investors. The parcel is zoned R5B with a maximum allowable floor ratio of 2.0, allowing for 14,000 s/f of residential development and 10,000 s/f of ground-floor retail.
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