Maheshchand Ratanji pays $19.8M to Tejpal Sandhu for 85-unit property in East Flatbush

Maheshchand Ratanji through the entity Kings Hwy Equities LLC paid Tejpal Sandhu’s Kings Hwy Ny LLC $19.8 million for 5264 Kings Highway in East Flatbush. The deal closed on October 8, 2020, and was recorded on November 9, 2020.

The contract date was January 23, 2020. The last time the property sold was May 2, 2018, for $3,400,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 85 residential units on August 26, 2020.
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 was one renovation/alteration project (A2) applied for with a total estimated value of $110,000.There has been one new building permit application totaling 19,338 square feet. Those plans include a total of 85 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link