Yotam Michaeli Acquires Development Site In Bushwick, Brooklyn For $3.5M

1351 Dekalb Avenue, a development site located in the Bushwick neighborhood of Brooklyn, has been sold for $3,500,000. The property is a 75 x 114 development site with R6 zoning. It has a total buildable square footage of 18,810. The plans for the site include a five-story building with 27 units, consisting of six studio units, twelve 1-bedroom units, and nine 2-bedroom units. Additionally, the development features 4,547 square feet of community facility space and 14 parking spaces. The property was sold following an aggressive marketing process that resulted in over nine competitive offers. The transaction closed after a 2-week time of essence period.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $3,500,000
• Address: 1351 Dekalb Avenue
• Market: Bushwick, Brooklyn
• Buyer: Yotam Michaeli
• Brokers: Baruch Edelkopf & Joseph Rosenfeld - Schuckman Realty
• BSF: 18,810
• PPBSF: $186

Schuckman Realty INC facilitated the sale of 1351 Dekalb Avenue. The brokers involved in the transaction were Baruch Edelkopf and Joseph Rosenfeld from Schuckman Realty. They conducted an aggressive marketing process that generated strong interest and resulted in over nine competitive offers. If you are interested in buying or selling 421A development sites, you can contact Baruch Edelkopf at 646-919-2446 or Joseph Rosenfeld at 718-501-8294.