Horizon Group Acquires Development Site In Flatbush For $7.4M

This development site at 1070 Flatbush Avenue in Flatbush has been sold for $7,400,000. The property spans a lot size of 15,330 square feet with dimensions of 167.67 ft x 96.42 ft. The sale includes full demolition permits, allowing for future redevelopment. The site is zoned for residential and commercial use under R6A, C4-4A, and C2-4 zoning regulations, providing opportunities for mixed-use development. The transaction represents a Building Square Footage (BSF) of 61,320, resulting in a price per buildable square foot (PPBSF) of $120. The property is classified under Tax Class 4 and has a Floor Area Ratio (FAR) of 1.00.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $7,400,000
• Market: Flatbush

The buyer, Horizon Group represented by David Marom, acquired the property from David Weinraub. The sale was facilitated by brokers Ofer Cohen, Peter Matheos, Andrew Manasia, and Jourdon Delerme of erraCRG.