Brooklyn Development Site Sells for $1.05M

Milton J. Chacon acquires a development site in Brooklyn's C4-4A zone for $1.05M.

By on Nov 25, 2020
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Brooklyn Development Site Sells for $1.05M

Milton J. Chacon has acquired a development site located at 241 Manhattan Ave. in Brooklyn’s C4-4A zone for $1.05M. The seller, Earl R. Davis @BKDebonair, Rinat Shahar, Jo-Ann R. Sullivan, Steven H. Hedberg & John Hedberg, were represented by Chris Cavorti, Evan F. Church & Marvin Chu of The Forray Team at Corcoran Group.

The site has a total square footage of 1,365 and a price per square foot of 769. The buildable square footage is 4,168, resulting in a price per buildable square foot of 251. The site is zoned for mixed-use development, allowing for a variety of uses including retail, office, and residential.

The property is located in the heart of Brooklyn, a vibrant and rapidly growing neighborhood. The area is known for its diverse mix of restaurants, shops, and cultural attractions, as well as its easy access to public transportation.

The sale of this development site is a testament to the strength of the Brooklyn real estate market, which continues to attract investors and developers from around the world. With its prime location and favorable zoning, this site is sure to be a valuable asset for its new owner, Milton J. Chacon.