Leser Group in contract to sell Borough Park commercial for $20M, owned for 50 years

Abraham Leser’s Leser Group is in contract to sell 5901 13th Avenue, a 30,000-square-foot, three-story building at the corner of 59th Street in Borough Park. The tenant is AMICO Senior Citizens Center. Leser’s ownership entity is Center in the Park Associates LLC.

Leser has owned the parcel for 50 years.

The buyer was not identified. The contract was February 18, 2021, according to the document filed with the Tel Aviv Stock Exchange. The property has a $5.16 million loan outstanding. Link to TASE notice.

Leser’s Center In the Park Inc. a predecessor to the current owner entity, bought the parcel in 1971 and the building was constructed in 1973.