Shlomo Karpen Anshel Fridman Norman Strulovitch Acquire Development Site In East Flatbush For $20M
224 Clarkson Avenue
$20,000,000
$833/SF
Building Size
24,000 SF
Asset Type
Development Site
Closing
Jul 10, 2025
AI
A development site located at 224 Clarkson Avenue in East Flatbush, Brooklyn was sold for $20,000,000. The property spans 24,000 square feet, with a price per square foot of $833 and a building size factor (BSF) of 103,200, resulting in a price per BSF of $194.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 224 Clarkson Avenue
- Market: East Flatbush, Brooklyn
- Building Size Factor (BSF): 103,200
- Price per BSF: $194
- Square Footage (SF): 24,000
- Price per Square Foot (PPSF): $833
- Buyer: Shlomo Karpen, Anshel Fridman & Norman Strulovitch
- Seller: Global Asset Properties, Mehrdad Kahan & Said Makhany
Shlomo Karpen, Norman Strulovitch, and Anshel Fridman were involved in the acquisition of the property, transacting with Global Asset Properties and partners, Mehrdad Kahan and Said Makhany.
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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93