Normandy Real Estate Partners Acquires Development Site In Brooklyn For $65M

A development site located at 120 Fifth Avenue in Brooklyn has been sold for a price of $65,000,000. The property has a total square footage of 175,000 and a price per square foot of $371. The transaction involved the buyer, Billy Macklowe and David Welsh from Normandy Real Estate Partners, and the seller, Brian Ezra from Avery Hall Investments. The brokers involved in the deal were Adam Spies, Douglas Harmon, Adam Doneger, Dan O'Brien, and David Welsh.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $65,000,000
• Total Square Footage: 175,000
• Price per Square Foot: $371
• Market: Brooklyn
• Buyer: Billy Macklowe, David Welsh – Normandy Real Estate Partners
• Seller: Brian Ezra – Avery Hall Investments
• Brokers: Adam Spies, Douglas Harmon, Adam Doneger, Dan O'Brien, David Welsh

The deal was facilitated by Adam Spies, Douglas Harmon, Adam Doneger, Dan O'Brien, and David Welsh. The buyers, Billy Macklowe and David Welsh, represent Normandy Real Estate Partners in this transaction. On the other hand, Brian Ezra represents Avery Hall Investments as the seller. The sale of this development site presents a significant opportunity in the Brooklyn market, adding to the growth and development of the area.