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Aerial View 73 Wortman Ave

$15.5M industrial sale in East New York

By

Annie Moultray

October 26, 2022

The entity Georgia Realty, LLC paid $15.5 million to DCD Marketing through the entity Wortman Properties LLC for the industrial building (E1) at 73 Wortman Avenue in East New York, Brooklyn. The deal closed on October 13, 2022 and was recorded on October 24, 2022. The property has 42,734 square feet of built space and 7,500 square feet of additional air rights for a total buildable of 50,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $362 and the price per buildable square foot is $310 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 seller bought the property on September 25, 2007, for $4.5 million. The signatory for DCD Marketing was Mitchell Vilinsky. The signatory for the company that appears to be the buyer, Total Transportation Corp., was Agostino Vona, company CEO. Total Transportation was acquired by Ohio-based First Student Inc, according to a press release from May 2022. David Junik and Nechama Liberow of Pinnacle Realty of NY represented the seller.

Read more at PincusCo

 Brooklyn Commercial Observer For Lease Hot Property

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