Fourth Avenue 731, LLC paid $5M to 731 4th Ave LLC

Fourth Avenue 731, LLC paid 731 4th Ave LLC $5.0 million for 1 parcel, including the tax class miscellaneous garage (G9) at 731 4 Avenue in Sunset Park. The deal closed on July 23, 2019 and was recorded on August 09, 2019. The parcel(s) have total development potential of 12,244 square feet.
The average sale price per square foot is $604.
The estimated cap rate is 1.9%

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on September 09, 2013.
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. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $54,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link