Menahem Chukroon Acquires Development Site At 50 Clifton Place And 302 Grand Avenue For $2.3M

The development site involved in this transaction is located at 50 Clifton Place and 302 Grand Avenue in Brooklyn. The properties were sold for a total of $2,300,000. The two-property development package comprises approximately 4,500 buildable square feet across side-by-side lots, with a price per buildable square foot of $511. The overall site has a square footage of 1,200, translating to a price per square foot of $1,916.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,300,000
• Buyer: Menahem Chukroon
• Seller: Donald LaRosa & Bernard Doyle
• Brokers: Jason Abrishami & Jerry Minsky - Douglas Elliman
• Buildable Square Feet: 4,500
• Price per Buildable Square Foot: $511
• Square Feet: 1,200
• Price per Square Foot: $1,916

The Minsky | Abrishami Team at Douglas Elliman successfully facilitated this off-market sale. The transaction included a unique contingency for the buyer, which involved securing approvals from the New York City Department of Buildings, the New York City Landmarks Preservation Commission, and finalizing neighbor agreements prior to closing.