10 Underhill Avenue

The property asset involved in this transaction is a development site located at 10 Underhill Avenue in Prospect Heights, Brooklyn. The sale price is $3,800,000, with a building square footage (BSF) of 21,648 and a price per building square foot (PPBSF) of $175. The total square footage (SF) also measures 21,648, maintaining a price per square foot (PPSF) of $175.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,800,000
• Buyer: Moses Rabinowitz
• Seller: Noah & Zev Sohne
• Brokers: Shaun Riney & Andrew Bronsteen - Marcus & Millichap
• BSF: 21,648
• PPBSF: $175
• SF: 21,648
• PPSF: $175

The brokers representing the transaction are Shaun Riney and Andrew Bronsteen from Marcus & Millichap. The sellers have owned this property for the last decade, and the recent AAMUP upzoning has led to a significant increase in its value, prompting the sellers to capitalize on this opportunity. The prospect of the project's development aligns with the rapid changes occurring in the surrounding area.