Chiam Fuchs Acquires Development Site At 414 And 416 Lorimer Street For $2M

The transaction involved the sale of a development site located at 414 Lorimer Street and 416 Lorimer Street in Brooklyn. The properties combined created a 40 x 60 lot, with approved plans for a six-unit apartment building totaling 4,885 square feet. The development site sold for $2,000,000, translating to approximately $409 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,000,000
• Buyer: Chiam Fuchs
• Seller: Sam Katz
• Brokerage Firm: Schuckman Realty
• Broker Representatives: Baruch Edelkopf, Bryan Altamirano, Carter Clark
• Market: Brooklyn
• Building Size: 4,885 sq. ft.
• Price per Square Foot: $409

The sale was managed by the Schuckman Realty Inc investment sales team, with Baruch Edelkopf leading the effort along with his team members, Bryan Altamirano and Carter Clark. This successful transaction highlights the firm's capabilities in handling property sales in New York City and Long Island.