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Bed-Stuy Development Site Trades for $11M

Cushman and Wakefield closed the sale of a prominent Brooklyn development site located at 703 Myrtle Ave. in Bedford-Stuyvesant for $10,800,000. The site was acquired by Abie Weiss, who plans to develop a mix of condo and rental units on the site. 

Cushman & Wakefield’s Dylan Walsh, Jonathan Squires, Nick Kolbus, and Tyler Morss led the transaction on behalf of the seller, Jake Levy. 

“This transaction highlights the value of professional representation in a complex and competitive market like New York City,” said Walsh. “The owners chose our team to spearhead a strategic approach to selling this site. Within weeks, we tapped into our extensive network and executed a robust marketing strategy, resulting in a final sale price that achieved a 6% premium over the broader market.”

The corner lot spans approximately 8,620 square feet with 36,204 buildable square feet under the Mandatory Inclusionary Housing zoning district. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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