Massey Knakal Sells Residential Development Site In Greenpoint/Williamsburg
A residential development site at 224 Richardson Street, located between Humboldt Street and Kingsland Avenue on the Williamsburg and Greenpoint border in Brooklyn, was sold in an all-cash transaction valued at $450,000.
The 25’ x 75’ lot contains approximately 3,750 buildable square feet and is situated in a R6B zone. The site is amongst numerous new construction projects in the area, all of which have done extremely well. The sale price equates to approximately $120 per buildable square foot.
“This residential development site received numerous competitive offers,” said Massey Knakal Vice President of Sales Mark Lively who exclusively handled this transaction with Director of Sales Brendan Maddigan. “The block has several new construction projects already in place and the 421a tax exemption is as-of-right for this site,” added 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.