Leor Eliyahu Acquires Development Site In Bedford-Stuyvesant For $950K

A development site located at 167 Malcolm X. Blvd. in Bedford-Stuyvesant, Brooklyn has been sold for $950,000. The property is zoned as R6A and C2-4. The buyer, Leor Eliyahu, closed the deal all in cash. The lot size of the property is 25 ft x 100 ft. The sale was facilitated by broker Ben Kopilev from VCPRE.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $950,000
• Market: Bedford-Stuyvesant
• Zoning: R6A, C2-4

In the transaction, the seller was Abie Coard. The buyer, Leor Eliyahu, already has over 50 units under development in different boroughs, with a majority of the projects located in Brooklyn.

NOTE FROM BROKER: The buyer quickly signed a TOE contract, even during the peak of the pandemic, within 24 hours of receipt. The buyer has displayed a strong interest in development projects and continues to expand their portfolio.