Jason Maier, Massey Knakal broker and exclusive agent on the sale, tells Globest.com that the sellers are the children of the original owner of G & Sons department store—the Bausk Family Trust. The eldest daughter, Gittel Bausk is the primary trustee for the property.

[IMGCAP(2)]Maier explains that after G & Sons went out of business National Wholesale Liquidators took over the site and "had a pretty good 10-year run with a NNN lease on the building." But due to a change in legislation under the Americans with Disabilities Act, Maier says, NWL was forced to bring all of it current stores up to code and was forced to shutter a few locations "and 4802-4822 New Utrecht Ave. was one of them."

He continues that the property "has now been vacant since 2006 and was locked up by a failed investor who tied the property up and failed to close. Now Massey Knakal has the listing and will be focused on exposing the property to all the national retailers, investors, developers and beyond."

Maier expects to see all kinds of interest in the property. "There will be investors and developers of all kinds looking at the property from every aspect of refurbishment to redevelopment," he says. "We have received calls from grocery stores and major discount store operator's--national and local. We have also seen many new schools built in the area over the last seven years and this site could easily suit that type of use as well."

Maier says that "the sheer size and scope of the property give any owner, user or developer one of the rarest opportunities in Boro Park. The building is also ideally located, he says. "Every interested party I have spoken to thus far understands that this is a one of a kind opportunity; there just is not product of this size and scope in such close proximity to the 13th Avenue shopping district and train stations."