The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

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.

Click here for press release

Neighborhoods: Bensonhurst/ Agents: Jeffrey Shalom