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

Historic Brooklyn Heights Development Site Sold by Massey Knakal

05/30/2012

A development site at 30 Henry Street, located on the corner of Henry and Middagh Street in the Historic District of Brooklyn Heights, was sold in an all cash transaction valued at $3,500,000.

The site is located in a R7-1 zone with a C1-5 overlay which allows for a total of 16,740 buildable square feet. The 75’ x 64’ lot contains a 6,300 square foot building that once housed the Brooklyn Daily Eagle newspaper. The sale price equates to approximately $209 per buildable square foot.

The market demands condo product and it’s no surprise that 30 Henry, located in one of Brooklyn Heights’ best pockets, sold $500,000 over the asking, exceeding $200 per buildable square foot.” said Massey Knakal Director of Sales Stephen Palmese who exclusively handled this transaction with Senior Associate Winfield Clifford.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

05/30/2012 - 13:20

Source

Cushman & Wakefield Capital Markets Group New York

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