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DIB Development Acquires Sunset Park Warehouse with Plans for Renovations 

DIB Development Group has acquired a four-story commercial and industrial building at 5714 1st Ave. in Brooklyn’s Sunset Park neighborhood for $19.9 million. The seller was Gabriel Gopin of Deitsch Realty.  Broker Gary Mayzlin from Real Estate Trade Co, Inc. represented the seller. 

The property consists of a mix of industrial and commercial tenants within approximately 100,000 square feet over four floors, with additional available air rights of roughly 25,000 square feet. Dating from 1917, it’s strategically located across the street from Brooklyn Army Terminal. 

DIB, which received an acquisition loan from Valley National Bank, plans to undertake a gut renovation.  “In the age of last-mile distribution, this new acquisition is an excellent hub for medium to large-size companies to operate out of in order to reach the high-demand NYC and five-borough market,” said Roland Dib, DIB’s founder and president.  

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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 13-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 15-20 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).

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