Candor Capital Acquires Development Site In Midwood, Brooklyn For $4.5M

Candor Capital's Cedar St 1613 Holdings LLC has acquired a development site at 1611-1615 Cedar Avenue in Midwood, Brooklyn. The property was sold by Yousef Lati's 1613 Cedar LLC for $4.5 million. The development site spans 1,620 square feet and has a sale price of $2,778 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Sale Price: $4,500,000
• Building Square Footage: 1,620
• Price per Square Foot: $2,778
• Buyer: Chaim Wurzberger - Candor Capital
• Seller: Yousef Lati
• Market: Midwood, Brooklyn

Candor Capital, represented by Chaim Wurzberger of Candor Capital, completed the acquisition of the development site at 1611-1615 Cedar Avenue. The sale was finalized for a total amount of $4.5 million. This transaction was executed between Chaim Wurzberger, acting for Candor Capital, and Yousef Lati, the seller of the property.

It is worth noting that Candor Capital's Cedar St 1613 Holdings LLC was the buyer for this transaction, while Yousef Lati's 1613 Cedar LLC served as the seller. The purchase price per square foot for the property was $2,778, with a total building square footage of 1,620. The sale of this development site marks a significant investment in the Midwood, Brooklyn market.