Ariel Property Development Sale in ENY
NYC Newswire
Ariel Property Development Sale in ENY 749 Van Sinderen Avenue
(PRESS RELEASE) Ariel Property Advisors Arranges $7 Million Sale Of East New York Development Site
NEW YORK, NY – October 27, 2025 – Ariel Property Advisors (Ariel) has arranged the $7,050,000 sale of 749 Van Sinderen Avenue, a development site in the East New York neighborhood of Brooklyn. The 22,500-square-foot lot was recently rezoned from M1-1 to C4-4L, resulting in 103,500 buildable square feet of mixed-use development potential.
An Ariel team led by Sean R. Kelly, Esq., Partner, along with Stephen Vorvolakos, Director, and Gabriel Elyaszadeh, Senior Associate, represented the seller. Josh Malekan of Venture Capital Partners represented the buyer
The sale marks the 10th development site the Ariel team has sold in Brooklyn and Queens this year alone with four more in contract. Together the development sites total close to 1 million buildable square feet and have a value of nearly $200 million.
“This transaction reflects the growing momentum we’re seeing in emerging Brooklyn submarkets like East New York,” said Kelly. “By navigating a successful ULURP rezoning process, the sellers unlocked significant development potential for a project that will deliver much-needed affordable housing to the city.”
The property currently contains several one-story warehouse buildings and sold for approximately $68 per buildable square foot. The buyers plan to construct a large-scale, mixed-use affordable housing development, contributing to ongoing efforts to address the city’s housing shortage and further revitalize the East New York corridor.
Located on the east side of Van Sinderen Avenue between New Lots Avenue and Linden Boulevard, the site offers 250 feet of frontage and exceptional accessibility, just steps from the New Lots Avenue L train station and B15 bus line, and within minutes of the Belt Parkway.
