Horizon Group Acquires Development Site In Flatbush For $7.4M

Located at 1070 Flatbush Avenue in the Flatbush neighborhood, this development site was recently sold in a closed transaction. Spanning a lot size of 167.67 ft x 96.42 ft, the property boasts a prime location. The asset type is a development site, and it falls under multiple zoning categories, including R6A, C4-4A, and C2-4. The sale, which took place on August 26, 2021, involved the buyer Horizon Group represented by David Marom and the seller David Weinraub.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,400,000
• Address: 1070 Flatbush Avenue
• Market: Flatbush
• Zoning: R6A, C4-4A, C2-4
• Buyer: Horizon Group - David Marom
• Seller: David Weinraub
• Permits Filed: Full Demolition (07/08/2021)
• Lot Size: 167.67 ft x 96.42 ft

Notable details about the transaction include a building square footage (BSF) of 61,320 and a price per BSF (PPBSF) of $120. The property also offers a total square footage (SF) of 15,330, resulting in a price per square foot (PPSF) of $482. This closed transaction marks a significant development in the Flatbush market.