NEW YORK, NY – September 12, 2017 – Ariel Property Advisors facilitated the sale of 2045 Linden Boulevard, a school building in the East New York neighborhood of Brooklyn. The three-story property sold for $10.975 million.

Spanning 42,112 square feet, the New York City Department of Education has been its sole tenant since the property was developed in 1973. A new 15-year lease was signed in February of 2015, which generates $737,100 annually, or $17.55 per square foot.

Exclusive agents Jonathan Berman, Victor Sozio, Daniel Tropp, and Alexander McGee represented the seller and procured the buyer.

“There was high demand for this property and with good reason as it offers a high return from a long-term lease, with a secure and stable tenant,” said Jonathan Berman, Director at Ariel Property Advisors.

The building is inhabited by P.S. K36, a top-performing school. Situated on a main east/west transportation corridor, the property is a mere four blocks from the Van Siclen Avenue stop on the 3 subway line.