The Reel

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A blog for breaking sales and neighborhood real estate news.

A development site at 225 Pennsylvania Avenue, located on the corner of Pitkin and Pennsylvania Avenues in Brooklyn’s East New York neighborhood, was sold in a transaction valued at $5,000,000.

The site contains approximately 47, 250 square feet on a 250’ x 220’ irregular lot. It resides in a residential zone (R5) and commercial (C8-2) zone and is just one block south of the C train at Liberty Avenue Subway Station. The site holds approximately 87,000 buildable square feet with the sale price equating to approximately $57 per buildable square foot.

"This property was delivered vacant and sold to a user who is planning on developing the property for storage use,” said Massey Knakal’s Edward Gevinski, who exclusively handled this transaction.

Click here for press release

Neighborhoods: East New York