The Reel

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A blog for breaking sales and neighborhood real estate news.

A development site at 111-113 Kane Street, located between Hicks and Columbia Streets, in Brooklyn’s Columbia Waterfront District, was sold in an all-cash transaction valued at $1,625,000.

The site measures 42.66’ by 94.83’ and consists of approximately 8,100 buildable square feet. It is located just a few blocks from the Brooklyn Bridge Park and the F subway line.  The site is ideal for condominium development.

The sale price equates to approximately $200 per buildable square foot.

“This sale represents the resurgent strength of the development market.  Prices for development sites have reached the same heights as the bubble in 2007,” said Massey Knakal Senior Vice President of Sales Ken Freeman who exclusively handled this transaction with Director of Sales Michael Amirkhanian.

Click here for press release

Neighborhoods: Columbia Street Waterfront District