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A blog for breaking sales and neighborhood real estate news.

A development site at 55-57 Pearl Street, located on the corner of Water Street in Brooklyn's DUMBO neighborhood, was sold in an all-cash transaction valued at $4,250,000.

The development site sits on a 50' x 90' lot.  It contains approximately 24,300 buildable square feet, plus approximately 3,500 square feet of air rights from an adjacent property, for a total of 27,800 buildable square feet, with the sale price equating to approximately $150 per square feet.

"Massey Knakal has exclusively represented a total of approximately $107,000,000 in properties in DUMBO this year," said Massey Knakal Director of Sales Stephen Palmese, who exclusively handled this transaction.

Click here for press release

Neighborhoods: DUMBO/ Agents: Stephen Palmese