Massey Knakal Sells Development Site In Brooklyn
Massey Knakal has sold a development site at 401 State Street. The building is located between Bond and Nevins Streets in Boerum Hill, Brooklyn. The building was sold in a transaction valued at $4,200,000.
The subject property is a four-story building with approximately 18,000 gross square feet. Currently configured as an office space, the building is located in a R6B zone, which presents the opportunity for a development/conversion to residential apartments in the heart of Boerum Hill. It is ideally located just four blocks away from the new Barclays Center and Atlantic Terminal, granting easy access to the B,Q,2,3,4,5, subway lines and the LIRR, as well as just a block away from the A,C, and G subways lines at Hoyt-Schermerhorn.
“The Brooklyn market is on fire these days and properties like this in Boerum Hill are no exception,” said Massey Knakal Chairman Bob Knakal, who exclusively handled this transaction with Stephen Palmese.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.