Moinian Group pays $16M to SL Green Realty for development site in Midwood

Moinian Group through the entity 1640 Flatbush Oz Owner LLC paid SL Green Realty’s 1640 Flatbush Owner LLC $16.2 million for 1640 Flatbush Avenue in Midwood. The deal closed on December 30, 2019, and was recorded on January 8, 2020. The transaction consists of 1 parcel, including the tax class gas station without enclosed lubrication plant or workshop (G5).

The last time the property sold was March 26, 2015, for $6,800,000. SL Green revealed plans for a 13-story building, but none have been filed with the Department of Buildings.

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 $180,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Correction: The neighborhood was corrected from East Flatbush to Midwood.