ATW Realty LLC paid $11M to Chehebar Associates LLC

ATW Realty LLC paid Chehebar Associates LLC $10.7 million for 1 parcel, including the tax class heavy manufacturing, fireproof building (F1) at 966 Alabama Avenue in East New York. The deal closed on July 26, 2019 and was recorded on August 14, 2019. The parcel(s) have total development potential of 40,804 square feet.
The average sale price per square foot is $262.
The estimated cap rate is 2.6%
The last time the property sold was February 27, 2015, for $5,650,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $325,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link