The Reel

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A blog for breaking sales and neighborhood real estate news.

A block-through development site at 131-137 Emerson Place, located just off the corner of Myrtle Avenue in Brooklyn’s Clinton Hill neighborhood, was sold in an all cash transaction valued at $13,000,000 or $74 per buildable square foot.

The property, located in a C2-4/R7-A zone, contains approximately 176,600 buildable square feet, of which 88,300 square feet can be applied towards residential use and 88,300 square feet can be used for a community facility. The sale was divided between the residential use, which sold for $11,000,000 and the community facility use which sold for $2,000,000.

“This site is a great development opportunity in a prime location in Clinton Hill.” said Massey Knakal Director of Sales Stephen Palmese who exclusively handled this transaction with Senior Associate Winfield Clifford.
Click here for press release

Neighborhoods: Clinton Hill/ Agents: Stephen Palmese