Updated Sep 25, 2026
Israel Atik Acquires Development Site At 1241 Bedford Avenue In Brooklyn For $6.5M
1241 Bedford Avenue
$6,700,000
$891/SF
Building Size
7,512 SF
Asset Type
Development Site
Closing
Sep 14, 2026
About this deal
AI
This development site, located at 1241 Bedford Avenue in Brooklyn, was sold for $6,500,000. The asset encompasses 21,900 buildable square feet, resulting in a price per buildable square foot of $297. The total square footage of the property is 7,512, translating to a price per square foot of $865.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,500,000
- Buyer: Israel Atik
- Seller: Kalabalik Family
- Brokers: Marcel Fridman & Andre DiPasquale - Barcel Group
Marcel Fridman and Andre DiPasquale represented the seller in this transaction, facilitating the agreement between Israel Atik and the Kalabalik Family regarding the sale of the property.
On the Map
$6,700,000
$891/SF
Development Site
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Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93