Menachem Markovics of Royal Builders signed a $10 million contract to acquire 740 40th Street in Sunset Park from a nonprofit organization that has owned the property since 1997. The site includes a 6,750-square-foot building and 43,322 square feet of additional development rights, for a total buildable of 50,084 square feet under R7A zoning. The sale, brokered by SG Realty, was disclosed in a court filing as part of the required approval process for nonprofit asset sales.
Menachem Markovics
