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New Empire Closes on Deal for Adjoining Flatbush Development Sites
New Empire Corp. closed on the acquisition of neighboring sites for development in Flatbush, Brooklyn. Acquired for $18 million, the lots are located at 757-767 Flatbush Ave. and 21 Lenox Rd. and total 37,793 square feet. The existing structures on both lots will be demolished to make way for a new mixed-use development.
Upon completion, the project will feature a ground-floor retail space and up to 150 one- and two-bedroom residential condominium units. It will offer residents a full suite of indoor and outdoor amenities including a landscaped green space.
Bentley Zhao, chairman and CEO of New Empire Corp., said, “New Empire Corp. prides itself on its ability identify value-add development opportunities in New York City. Following our sales success at our nearby 567 Ocean project, we aim to deliver a similar living experience that prioritizes quality construction and attainable luxury to such a vibrant and fast-growing community.”
- ◦Sale/Acquisition
- ◦Development

