A development site at 10 Box Street (6-16 Box Street & 39-49 Clay Street), located between Manhattan Avenue and Commercial Street in Brooklyn’s Greenpoint neighborhood, was sold in an all cash transaction valued at $4,200,000.
The large residential or mixed-use development site has frontage on both Box and Clay Streets. The site is 121’ x 200’ and has approximately 65,340 residential square feet or 87,120 square feet with the Inclusionary Housing bonus. Currently, there is a 24,200 square foot warehouse on the lot. The site is located one block from the Brooklyn waterfront and will offer great views on the higher floors once a building is constructed. The sale price equated to $174 per square foot and $64 per buildable square foot.
“The interest in this property was very strong with nearly 30 offers being submitted,” said Massey Knakal Director of Sales Mark Lively who exclusively handled this transaction with CEO Paul J. Massey, Jr and Director of Sales Brendan Maddigan. “When the area becomes begins to be redeveloped, this project will be a nice addition to an already rapidly improving area of Northern Greenpoint,” added Maddigan.
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Neighborhoods: Greenpoint/ Agents: Mark Lively, Paul Massey Jr.