Joel Schwartz Acquires Development Site In East Williamsburg For $2.85M

A development site located at 383 Union Ave in East Williamsburg, Brooklyn has been sold in a closed transaction. The property spans a total square footage of 3,748 with a price per square foot (PPSF) of $760. It offers a building square footage (BSF) of 8,249 with a price per BSF (PPBSF) of $345. The asking price for the site was $3,050,000, and it was sold for $2,850,000.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $2,850,000
• Address: 383 Union Ave
• Market: Brooklyn, East Williamsburg
• Square Footage: 3,748
• Price per Square Foot (PPSF): $760
• Building Square Footage (BSF): 8,249
• Price per BSF (PPBSF): $345

The seller of the property was Ravi Patel, while the buyer was Joel Schwartz. The transaction was facilitated by the brokers Shaun Riney, Mike Salvatico, and John Barney from Marcus & Millichap.