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New York & Tri-State  + Outer  + Apartments  | 

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.” 


Inside The Story

New Empire Corp.

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 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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