GD Capital Group pays $2.1M for property in Bedford-Stuyvesant

GD Capital Group through the entity 227 Malcolm X Blvd LLC paid Israel Elbogen’s Chauncey Capital LLC $2.1 million for 227 Malcolm X Boulevard in Bedford-Stuyvesant. The deal closed on January 27, 2021 and was recorded on February 12, 2021. The transaction consists of 1 parcel, including the tax class primarily four family with store or office (S4) and containing 4 residential units. The property is 4,983 square feet. The parcel(s) have total development potential of 4,983 square feet.
The average sale price per square foot is $425.

The signatory for GD Capital was CEO Mark Guindi.  The contract date was October 20, 2020. The last time the property sold was October 30, 2013 for $895,000.
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.

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