Catholic Charities pays $4.8M to KP Developers for mixed-use building in Far Rockaway

Catholic Charities Brooklyn and Queens through the entity Mary’S Hall, Inc. paid $4.8 million to KP Developers through the entity Mott Of Fr LLC for mixed-use building (K2) at 18-47 Mott Avenue in Far Rockaway, Queens.
The deal closed on July 28, 2021 and was recorded on August 10, 2021.
The property has 18,200 square feet of built space and 7,811 square feet of additional air rights for a total buildable of 26,001 square feet according to PincusCo analysis of city data. The sale price per built square foot is $260 and the price per buildable square foot is $182 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The owner bought the property on 22-Jul-05, for $350,000.
The signatory for KP Developers was Ryan Pedram. The signatory for Catholic Charities Brooklyn and Queens was Emmie Glynn Ryan.

Within a 400-foot radius of 18-47 Mott Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Uzi Shvut borrowed $17.6 million from Barclays secured by the 21,850-square-foot, seven-unit mixed-use building (S9) on 10-32 Beach 19th Street and five other properties on June 30, 2021.

Direct link to Acris document. link