Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Sells Development Site in Williamsburg

05/08/2015

A development site at 270 Manhattan Avenue, located between Ainslie and Powers Streets in Brooklyn’s Williamsburg neighborhood, was sold in an all-cash transaction valued at $3,600,000.

The property measures approximately 50’ x 100’ and sits in an R6B zoning district.  It holds approximately 10,000 buildable square feet for residential development, and the sale price equates to approximately $360 per buildable square foot.

The property is located in a desirable section of Williamsburg, where there is an increasingly strong demand for new condominiums and luxury rentals.

“This property is located on a great block in one of the nicest residential pockets in Williamsburg,” said Cushman & Wakefield’s Brendan Maddigan, who exclusively handled this transaction with James Nelson.  “It’s also one of the highest sales east of the BQE on a price per buildable square foot basis, especially considering strictly residential transactions,” Brendan continued.

05/08/2015 - 19:45

Source

Cushman & Wakefield Capital Markets Group New York

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