Updated May 6, 2026
Castell Group Acquires Development Site From TC Son Corporation & Drew Lontos For $25.15M
1029 Dean Street & 1104 Pacific Street
$25,150,000
$178/SF
Building Size
100,335 SF
Asset Type
Development Site
Closing
Apr 19, 2026
About this deal
AI
The development site located at 1029 Dean Street & 1104 Pacific Street in Brooklyn has been sold for a total of $25,150,000. The property spans 115,000 square feet, resulting in a price per square foot of $219.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,150,000
- Address: 1029 Dean Street & 1104 Pacific Street
- Market: Brooklyn
- BSF: 115,000
- PPBSF: $219
- Buyer: Castell Group
- Seller: TC Son Corporation & Drew Lontos
- Brokers: Michael Mazzara, Brendan Maddigan & Ethan Stanton - JLL
The transaction involved key players, including the buyer Castell Group and the sellers TC Son Corporation and Drew Lontos. The brokerage team representing the deal consisted of Michael Mazzara, Brendan Maddigan, and Ethan Stanton from JLL, facilitating the sale process for both parties.
On the Map
$25,150,000
$178/SF
Development Site
View full map
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93