Jacob Schwimmer Acquires Development Site At 540 Atlantic Avenue In Boerum Hill, Brooklyn For $38.5M

A development site located at 540 Atlantic Avenue in Boerum Hill, Brooklyn has been sold for a total of $38,500,000. The property is situated in a prime location in the Boerum Hill neighborhood, known for its vibrant community and desirable amenities. The sale represents a significant transaction in the real estate market.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $38,500,000
• Date: 11/29/2023
• Address: 540 Atlantic Avenue
• Market: Boerum Hill, Brooklyn

The buyer of the property is Jacob Schwimmer, who made the purchase from the Pappas Family. The transaction was facilitated by Stephen Palmese, Brendan Maddigan, Winfield Clifford, Michael Mazzara, and Ethan Stanton, representing JLL. Their expertise in the real estate market contributed to the successful completion of the deal.