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

Massey Knakal Sells Development Site In Williamsburg

10/23/2012

A development site at 155 Berry Street, located between North 5th and North 6th Streetsin Brooklyn’s Williamsburg neighborhood, was sold in an all-cash transaction valued at $1,155,000.

The development site is approximately 20’ x 100’ and contains approximately 4,000 buildable square feet. The sale price equates to approximately $289 per buildable square foot.

Located in the heart of Williamsburg, this property is just three blocks away from the Bedford Avenue L train station, which provides quick access to Manhattan and throughout Brooklyn.  Less than four blocks away is the East River Ferry Terminal which provides easy access to Manhattan while taking in the views of the city from the water. 

“The price per buildable square foot for this sale is well above the prior height of the market and into new record territory, which just further demonstrates the strength of the Williamsburg real estate market,” said Massey Knakal Vice President of Sales Mark L. Lively, who exclusively handled this transaction with Director of Sales Brendan Maddigan.

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.

10/23/2012 - 10:25

Source

Cushman & Wakefield Capital Markets Group New York

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