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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 1217-1221 Bedford Avenue, located between Hancock and Halsey Streets in Brooklyn’s Bedford-Stuyvesant neighborhood, was sold in an all-cash transaction valued at $6,250,000.
The four-story building contains approximately 14,760 square feet and features 60 feet of frontage on Bedford Avenue and access to Halsey Street via driveway from the rear side.  The sale price equates to approximately $423 per square foot.

The property is conveniently located just two blocks from the Franklin Avenue and Nostrand Avenue stops for the A/C train lines, offering access to Manhattan within 20 minutes.  The Franklin Avenue shuttle with service to Prospect Park and the Botanical Gardens is nearby as well.  The property also benefits from close proximity to Fulton Street, one of the area’s strongest retail corridors, drawing national retailers and substantial foot traffic. 

“This site offered this developer an opportunity for cash flow in the short term, with substantial mixed-use conversion potential on one of the best positioned locations in the neighborhood,” said Cushman & Wakefield’s Michael Amirkhanian, who exclusively handled this transaction with Robert M. Shapiro.

Click here for press release

Neighborhoods: Bedford Stuyvesant/ Agents: Robert Shapiro