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Midwood Development Site on Market Asking $2.5 Million

MIDWOOD — A residential development site with approved plans in Midwood is on the market with an asking price of $2.5 million.

Jeffrey A. Shalom, vice president of sales at Massey Knakal Realty Services, has the listing for the site, at 1288 E. 19th St., between Avenue L and Avenue M.

The lot area is approximately 10,029 square feet. The approved plans call for a seven-story, 45,443-square-foot building with 30 apartments, 15 parking spaces and an exercise room.

“The owner, a highly respected New York City landlord and developer, will also entertain offers for a majority equity interest in the property,” said Shalom. “An investor can choose to play an active or a passive role in the development of this property. A construction financing term sheet has already been obtained by the developer.”

— Compiled by Linda Collins

February 29, 2012 - 5:27pm


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