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New York & Tri-State   /   May 23, 2019

Paul Bubny
By: Paul Bubny

NKF’s Ezratty Markets East New York Parcel

NKF has been retained to sell a 10,761-square-foot lot located at 2390-2400 Pitkin Ave. in Brooklyn’s East New York neighborhood. A team led by vice chairman Brian Ezratty is representing the undisclosed seller, who is seeking $5.25 million.

Located within a Transit Zone, the site is zoned primarily for residential use, including a mandatory inclusionary housing component, along with ground-floor commercial space. There’s also the potential for a zoning floor area bonus if the developer leases a significant portion of the ground floor space to a fresh produce purveyor.

“As the revitalization of East New York is now in full swing, the purchaser of the site will participate in the resurgence of this transit-oriented district,” said Ezratty. “The developer will realize the benefits of the improving submarket through the construction of new market rate apartments, while providing for much needed affordable housing in the area at the same time.”

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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