Massey Knakal Sells Corner Development Site In Brooklyn Heights
A development site at 70 Henry Street, located on the corner of Orange and Henry Streets in Brooklyn Heights, was sold in an all-cash transaction valued at $7,500,000.
The subject property is an approximately 4,163 square foot corner lot. It currently consists of a one-story commercial building and benefits from approximately 14,321 as-of-right buildable square feet. The property is located in the Brooklyn Heights Historic District and is subject to Landmarks Approval. The sale price equates to approximately $523 per buildable square feet.
“70 Henry Street presents the rare opportunity to build a new construction luxury residential building in Brooklyn Heights, one of New York City’s premier neighborhoods,” said Massey Knakal’s Stephen P. Palmese, who exclusively handled this transaction.