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MightyMap.com leads buyer to Brooklyn bank property.


Demonstrating the real estate information and location tools available through MightyMap.com, investor Jonas Rudofsky, founder of MightyMap.com, recently acquired the former East New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest.  world headquarters at 2644 Atlantic Avenue The following streets in the United States are named Atlantic Avenue:
  • Atlantic Avenue (Boston) in Massachusetts
  • Atlantic Avenue (New York City) in Brooklyn and Queens, New York
  • Atlantic Avenue (Atlantic City) in New Jersey, used in the Monopoly game
 (the corner of Pennsylvania Avenue Pennsylvania Avenue is a street in Washington, D.C. joining the White House and the United States Capitol. Called "America's Main Street," it is the location of official parades and processions, as well as protest marches and civilian protests. ) in Brooklyn, NY.

The purchase price was $5.5 million. The seller was Miracle Maker Inc. and Lee Allen Lee Allen can refer to:
  • Lee Allen (baseball) (1915-1969), a baseball historian.
  • Lee Allen (musician) (1926-1994), a saxophone player.
  • Lee Allen (motorcycle racer), an American motorcycle racer.
 of Arc Realty Services, represented both parties in the transaction.

The subject property contains the entire blockfront bounded by Atlantic, New Jersey and Pennsylvania Avenues located along one of the borough's busiest thoroughfare.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Mighty Map, the daily traffic count on the intersection exceeds 100,000 cars. The development site is 54,000 s/f. While M and T Bank, the successor to East New York Savings Bank, maintains its branch on site, the former offices are available for lease through Rudofsky. In addition, Rudofsky is planning the demolition and redevelopment of the 175 feet of Atlantic Avenue frontage not occupied by the Bank. This unique pad site A pad site is a freestanding parcel of commercial real estate located in the front of a larger shopping center or strip mall. Desirable because of their visibility to consumers, accessibility, and the ease of facilitating drive-thru service, pad sites are typically sought after by  is zoned C8-2 and is ideal for any operation seeking high a high volume drive through operation. Alternatively a public building of approximately 275,000 s/f is also as of right.

"Through the unique locational information tools available only in MightyMap.com, we were confidently able to conclude a deal with the seller with a minimal of outside due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. ," said Rudofsky, who developed the service specifically with the needs of real estate investors in mind.

"Through MightyMap we were able to immediately identify comparables and research traffic flow, zoning, transportation access and other information that allowed us to make an offer overnight!"

More and more investors, developers and brokers are discovering the advantages of MightyMap.com, as hundreds of new subscribers sign-up for the service each month. Rudofsky said that MightyMap has allowed him and many others make informed, expedited and ultimately lucrative real estate investment decisions time and time again, both as broker and principal.

While designed with the needs of the real estate professionals specifically in mind, the vast information made available through MightyMap.com has useful applications to a wide variety of fields, from marketing to fund-raising to electioneering to Appraisal Work.

Building permits, auction sales, foreclosures, comparables, community and school districts, voter registration Voter registration is the requirement in some democracies for citizens to check in with some central registry before being allowed to vote in elections. An effort to get people to register is known as a voter registration drive. Centralized/compulsory vs.  files--almost every conceivable category of geo spatial information at the parcel level, in the five boroughs of New York City--has been integrated into an easy to navigate, easy to read and interpret mapping tool.

"Realizing that there had to be a better way to organize this information instead of thumbing through his field notes, researching and redrafting the same information for each individual deal, I started building a product around my personal experiences," explains Rudofsky.

"Using readily available desktop mapping Using a desktop computer to perform digital mapping functions.  applications, I discovered it was possible to join layers and layers of valuable information in a single view, quickly leveraging my ability to find, analyze, and transact in the real estate world."

Over five years, these layers of information were engineered to empower real estate players to study data at the parcel level, urban real estates truest measure.

Mighty Map is the first tool to seamlessly deliver highly varied data sets all viewable with this single reference point in mind.
COPYRIGHT 2005 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:TECHNOLOGY
Publication:Real Estate Weekly
Date:Dec 21, 2005
Words:536
Previous Article:On the web.
Next Article:Alliance offers industry one stop for building info and direct mailing.(TECHNOLOGY)
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