ESL Investments paid $4M to Sears, Roebuck And Co.

Edward S. Lampert’s ESL Investments through the entity Transform Operating Stores LLC paid Sears, Roebuck And Co., $3.8 million for 2 parcels, including the tax class multi-story department store (K3) at 2360 Bedford Avenue, 2359 Bedford Avenue in Brooklyn. The deal closed on August 30, 2019 and was recorded on September 04, 2019. The parcel(s) have total development potential of 719,159 square feet according to an analysis of NYC Department of City Planning data.

The properties were acquired through the Sears bankruptcy procedure.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $528,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link