Brooklyn, NY Meridian’s Shallini Mehra and Amit Doshi closed on their exclusive at 2848 Church Ave., a two-story, former bank building located in the Flatbush neighborhood. The 8,400 s/f early art deco property sold for $5.9 million, translating to $705 per s/f, a new record for the neighborhood.
“2848 Church Ave. was home to many banks dating back to the late 1890’s, starting with the German Savings Bank of Brooklyn. The building changed hands over the years and operated as a bank into the mid-1990’s when it was finally sold to McDonald’s. The building is currently occupied by a Burger King and an orthodontics office,” said Mehra.
“This vibrant part of Flatbush boasts strong foot traffic, given its location at the intersection of Church and Nostrand Avenues. The building is surrounded by retail, shops and offices, making it a magnet for strong national brands,” said Doshi.
2848 Church Ave. is located near many well-known retailers and restaurants including Chase Bank, Walgreens, Dollar Tree, Subway and Pizza Hut. A new Target just opened a few blocks west, bringing more traffic and retail appeal to this location. Additionally, the property is near the Church Avenue subway station which services the 2 and 5 lines.
Meridian’s Mehra and Doshi represented both the buyer, Foster Equities LLC, and the seller, 2848 Church Avenue Holding LLC. Attorney Jack Aini of Aini & Associates PLLC represented the seller, while Cyril Derzie of Seyfarth Shaw LLP represented the buyer.