Bridges Development pays $14M for 21% stake in Caesar’s Bay Shopping Center in Gravesend

Bridges Development Group through the entity JE Holdings LLC paid $14 million to Susan Diiorio and Christine Diiorio through the entity Diiorio Realty LLC for a 21.05 percent interest in the Caesar’s Bay Shopping Center (K6) at 1608-1644 Shore Parkway in Gravesend, Brooklyn.
The deal closed on July 8, 2021 and was recorded on July 23, 2021.
The property has 290,400 square feet of built space and 1,649,000 square feet of additional air rights for a total buildable of 1,940,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $48 and the price per buildable square foot is $7 per the PincusCo analysis. The property is controlled by Surrey Equities and Gazit Horizons.
The owner bought the property on 5-Feb-18, for $2.1 million.
The signatory for Susan Diiorio and Christine Diiorio was Susan Diiorio and Christine Diiorio. The signatory for Bridges was Michael Berfield.

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