A development site at 70 Bushwick Avenue, located on the northwest corner of Powers Street and Bushwick Avenue in Brooklyn’s Williamsburg neighborhood, was sold in an all-cash transaction valued at $2,800,000.
Located within an R7A zoning district, the corner site holds approximately 7,493 buildable square feet as of right and sits on a 25.75’ x 82.33’ irregular lot. It is currently improved by a single-story commercial building. The sale price equates to approximately $378 per buildable square foot.
The property is ideally located just one block from the L train at the Grand Street station, providing direct access to Manhattan.
“We received several solid offers within just two weeks of bringing the property to market. In less than 30 days, the site was in contract for an all-cash, full-ask offer,” said Cushman & Wakefield’s Brendan Maddigan, who exclusively handled this transaction. “We are thrilled to see these numbers and such a strong market response for the neighborhood,” continued Maddigan.
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Neighborhoods: Williamsburg/ Agents: Brendan Maddigan