Boardwalk parcel sells to developer for $1.475M

October 2, 2012 Compiled by Linda Collins Brooklyn Daily Eagle
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Marcus & Millichap Real Estate Investment Services, with offices in Downtown Brooklyn, reports the sale of a land parcel at the boardwalk in Coney Island on Sept. 19.

The vacant parcel, at 3220 Boardwalk West, between West 32nd and West 33rd streets, sold to a developer for $1.475 million, or $188 per buildable square foot, accord-ing to John Horowitz, regional manager of the firm’s Brooklyn office.

The new owner is identified in records as 3224 Riegelmann LLC. It is unknown what the plans are for the 6,278-square-foot land parcel that measures 41 feet by 155 feet and is zoned R5 for residential development.

Maria Barbatsis, Erik Rodriguez and Derek Bestreich, investment special- ists in the firm’s Brooklyn office, and Matthew Fotis from the Manhattan office, represented the seller, a pri- vate investor. The buyer was secured and represented by Lazarus Apostolidis of the Manhattan office, along with Fotis and Barbatsis.

Calling it a record price, Rodriguez said, “Our agents worked cooperatively to get the deal done seamlessly.”

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