Urban Edge Properties pays $76M to Nightingale, Infinity, for second retail parcel in Sheepshead Bay

Urban Edge Properties, a Vornado Realty Trust 2015 spinoff, through the entity UE Kingswood Two LLC paid Nightingale Properties and Steve Kassin’s Infinity Real Estate’s Ire-Ng 1715 E 13th Street LLC $76.0 million for 1712 East 14th Street in Sheepshead Bay. The deal closed on February 12, 2020, and was recorded on February 26, 2020. The transaction consists of 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1). The property is 114,433 square feet.
The average sale price per square foot is $664.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on November 8, 2018.

This is the second part of a two-parcel transaction totaling $165 million, in which Urban Edge bought retail assets from Nightingale and Infinity. The other was recorded on Tuesday.

Over the past five years, there have been 11 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $4,181,282.There has been one new building permit application totaling 88,678 square feet. 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