Yitzchok Schwartz Acquires Development Site From Joseph Elishayev For $35.5 Million In Brooklyn

A development site located at 1101-1123 Myrtle Avenue in Bedford Stuyvesant, Brooklyn has been sold for $35,500,000. The property encompasses 120,000 square feet, resulting in a price per buildable square foot of $296. The buyer has plans for a residential project consisting of 77 units, which is currently awaiting permits.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $35,500,000
• Address: 1101-1123 Myrtle Avenue
• Market: Bedford Stuyvesant, Brooklyn
• Buildable Square Feet: 120,000
• Price Per Buildable Square Foot: $296
• Buyer: Yitzchok Schwartz
• Seller: Joseph Elishayev

Yitzchok Schwartz, representing Myrtle Estates II LLC, is the buyer in this transaction. The seller of the property is Joseph Elishayev, who has finalized the deal for the development site.