Katz Family Acquires Development Site In Midwood, Brooklyn For $1.95M

A development site located at 1688 East 18th Street in Midwood, Brooklyn, has been sold in a recent transaction. The property, with a building square footage (BSF) of 18,000, was purchased for a sale price of $1,950,000. The price per building square footage (PPBSF) amounts to $108, indicating a favorable investment opportunity.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $1,950,000
• Address: 1688 East 18th Street
• Market: Midwood, Brooklyn

The sale of this development site was facilitated by brokers Jacob Stavsky from Stav Equities and Eli Soleimani from SP Capital Group. Jacob Stavsky, known for his expertise in property transactions, represented the buyer, the Katz Family. On the other hand, Eli Soleimani served as the representative of the seller, Rabbi Haimoff. Through their combined efforts, the deal was successfully closed at a mutually beneficial price.