Joel Schwartz secured a $13 m acquisition and construction loan from S3 Capital to purchase a development site at 582-584 Gates Avenue in Bedford-Stuyvesant, Brooklyn, for $5.7 m. The 6,333-square-foot lot offers 18,999 buildable square feet and was previously a gas station. Plans are filed for a 28-unit, 18,893-square-foot residential building, though permits are pending. The sale price reflects $300 per buildable square foot.
Joel Schwartz
