New York & Tri-State + Outer | May 23, 2019

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 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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