Two development sites, located at 181 Troutman Street and 303 Stockholm Street in Brooklyn’s Bushwick neighborhood, were sold in an all-cash transaction valued at $2,600,000.
The residential development sites combine for approximately 11,000 buildable square feet. The properties were delivered vacant and the sale price equates to approximately $236 per buildable square foot.
181 Troutman Street, located between Wilson and Central Avenues, is currently improved by a two-story, two-unit building that contains approximately 2,025 square feet and was gut-renovated in 2009. It benefits from approximately 3,475 square feet of additional air rights. 303 Stockholm Street, located between Wyckoff and Irving Avenues, is currently vacant land on an approximately 25’ x 100’ lot.
The properties are ideally located near multiple public transportation options, including the L, J, M, and Z trains, offering access to Manhattan and Williamsburg within 20 minutes. Additionally, the properties benefit from close proximity to many of Bushwick’s already flourishing art galleries, night life, and dining options.
This transaction was exclusively handled by Cushman & Wakefield’s Michael Amirkhanian.
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Neighborhoods: Bushwick