Sasson Real Estate pays $3.9M for office building in Borough Park

Sasson Real Estate Group through the entity BK RE Holdings LLC paid $3.9 million to Norman Saffra through the entity Tgn Management Inc. for office building (O2) at 902 49th Street in Borough Park, Brooklyn.
The deal closed on September 9, 2021 and was recorded on September 20, 2021.
The property has 4,320 square feet of built space and 799 square feet of additional air rights for a total buildable of 5,112 square feet according to PincusCo analysis of city data. The sale price per built square foot is $902 and the price per buildable square foot is $762 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Norman Saffra was Norman Saffra. The signatory for Sasson Real Estate Group was Uri Sasson.

Uri Sasson is the founder of Sasson Real Estate Group.

Within a 400-foot radius of 902 49th Street, Pincusco identified four commercial real estate items of interests occurred over the past 24 months.
One of those four items was a sale which Leon Nektalov bought the 14,080-square-foot, 16-unit rental (C1) on 862 50th Street and one other property for $5.2 million from Howard Nussdorf on March 5, 2021.
Of those four items, three were loans above $5 million totaling $164.2 million. The most recent of the three was Robert Frankel which borrowed $5.0 million from Td Bank, N.A. secured by the 30,000-square-foot, 26-unit rental (D7) on 852 49th Street on December 22, 2020.

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