Filosa Family Sells Development Site At 946 Glenmore Avenue In East New York For $2.5M

The property asset involved in the transaction is a development site located at 946 Glenmore Avenue in East New York. The sale price for this development site was $2,500,000. The property has a total buildable square footage of 20,000 and an existing structure size of 6,500 square feet, selling for $125 per buildable square foot and $384 per square foot for the existing building. The site is a 10,000 square foot corner lot with a 2.0 FAR allowing for substantial development potential.

Baruch Edelkopf represented the seller in this transaction. The deal was notable for its timing and strategic planning, as it was advised to hold off until the full passing of City of Yes in 2024, which enhanced the FAR for the residential site. The process saw a competitive market despite challenges in government subsidy programs during 2025, leading to the successful closing of the sale. Special recognition was given to Shaya Gansburg for collaboration on maximizing client value.