A former nursing home at 8629 Bay Parkway, located between 86th Street and Benson Avenue in Brooklyn’s Bensonhurst neighborhood, was sold in an all cash transaction valued at $3,170,000.
The three-story property is approximately 16,032 square feet and sits on a 120’ x 96.8’ lot. The property, which was formerly operated as a 45 bed acute care nursing home, was delivered vacant. In addition to the bedrooms and bathrooms, there are two kitchens, a dining room, administrative offices, social rooms, treatment rooms, and a backyard. There is a potential to develop a 34,800 square foot residential building or a 55,680 square foot community facility. The sale price equates to approximately $200 per square foot.
“The buyer was an experienced local developer. He may be converting the existing structure and adding floors to it for a condo development,” said Massey Knakal First Vice President of Sales Jeffrey A. Shalom who exclusively handled this transaction.
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Neighborhoods: Bensonhurst/ Agents: Jeffrey Shalom