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

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BKREA successfully represented the Filosa Family in the sale of 946 Glenmore Avenue, a development site in East New York, Brooklyn, for $2.5 million. Closed on June 29, 2026, the transaction highlights the importance of strategic timing, zoning analysis, and informed market positioning in New York City's development site market.

The property features a 10,000-square-foot corner lot with approximately 20,000 buildable square feet and an existing 6,500-square-foot structure. By advising the ownership to wait for the implementation of the City of Yes zoning changes, BKREA helped position the property to benefit from increased residential development potential.

Key Takeaways from the 946 Glenmore Avenue Sale

• Strategic Timing Maximized Development Potential

BKREA advised the seller to wait for the City of Yes zoning changes in 2024, which enhanced the site's floor area ratio (FAR) and residential development potential.

• Strong Transaction Value in Brooklyn

The property sold for $2.5 million, representing approximately $125 per buildable square foot and $384 per square foot of existing building area.

• Development Site Expertise Drives Results

The transaction demonstrates the value of understanding zoning regulations, development feasibility, and market conditions when positioning properties for sale.

• Market Competition Requires Strategic Execution

Despite challenges affecting government subsidy programs in 2025, BKREA navigated the market to successfully complete the transaction.

• Seller Representation Focused on Maximizing Value

Baruch Edelkopf of BKREA represented the Filosa Family, with Shaya Gansburg recognized for his collaboration in maximizing client value.

Why This Transaction Matters

The sale of 946 Glenmore Avenue illustrates how informed timing and zoning knowledge can influence the value of a development site. By evaluating regulatory changes and market conditions, BKREA helped the ownership pursue a strategy designed to strengthen the property's development potential and achieve a successful sale.

Transaction Highlights

• Property: 946 Glenmore Avenue, Brooklyn, NY
• Neighborhood: East New York
• Sale Price: $2,500,000
• Lot Size: 10,000 square feet
• Buildable Area: 20,000 square feet
• Existing Building: 6,500 square feet
• Price per Buildable Square Foot: $125
• BKREA Broker: Baruch Edelkopf
• Seller: Filosa Family
• Closing Date: June 29, 2026

Frequently Asked Questions

What was the sale price of 946 Glenmore Avenue?

The development site sold for $2.5 million in June 2026.

Who represented the seller?

Baruch Edelkopf of BKREA represented the Filosa Family.

What is the property's development potential?

The 10,000-square-foot corner lot offers approximately 20,000 buildable square feet, according to the published transaction details.

How did City of Yes affect the transaction?

The zoning changes enhanced the property's residential development potential, making strategic timing an important factor in the sale.

What is the main takeaway from this transaction?

Understanding zoning changes, evaluating development potential, and choosing the right time to bring a property to market can help owners maximize value.

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