The Reel

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A blog for breaking sales and neighborhood real estate news.

A development site at 186 Greenpoint Avenue, located between Leonard and Eckford Streets in Brooklyn’s Greenpoint neighborhood, was sold in an all-cash transaction valued at $2,500,000.

The site holds approximately 7,194 buildable square feet for residential development on a 25’ x 112.58’ irregular lot.  Plans have been approved by the DOB to build a five-story residential building, with six large apartment.  The property is conveniently located less than two blocks from the Greenpoint Avenue G train station.  The sale price equates to approximately $348 per square foot.

“There was a tremendous amount of interest in this site and we received several competitive offers, with our client ultimately choosing the buyer who could close the quickest to win out,” said Cushman & Wakefield’s Brendan Maddigan, who exclusively handled this transaction.

Click here for press release

Neighborhoods: Greenpoint/ Agents: Brendan Maddigan