Buyers pay $13M to David Levine for property in Flatlands

UPDATED: Three individuals through the entity Flatlands Capital LLC paid David Levine’s Sunco Realty LLC $12.8 million for 4915 Flatlands Avenue in Flatlands. The deal closed on August 29, 2019, and was recorded on September 27, 2019. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 34,346 square feet. The parcel(s) have total development potential of 34,346 square feet.
The average sale price per square foot is $545.
The estimated cap rate is 5.3%

Updated: The story has been updated with the removal of three individual buyers’ names.

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