A development site at 1875 Atlantic Avenue, located on the corner of Atlantic Avenue and Columbus Place in Brooklyn’s Bedford-Stuyvesant neighborhood, was sold in an all-cash transaction valued at $7,300,000.
The property currently contains an approximately 18,620-square foot warehouse on a 116’ x 167.58’ lot. It holds approximately 80,967 buildable square feet and the sale price equates to approximately $90 per buildable square foot.
The property is located three blocks from the Ralph Avenue C train station, providing access to Manhattan within 20 minutes and Downtown Brooklyn within 15 minutes.
“This site offered the buyer substantial scale for residential development along the subway, directly between core Bed-Stuy and Broadway Junction. Sites like this will open the door to more development along this well positioned pocket,” said Cushman & Wakefield’s Michael Amirkhanian, who exclusively handled this transaction.
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Neighborhoods: Bedford Stuyvesant