Hershy Silberstein Acquires Development Site In Greenpoint From The Mawyin Family

Located at 131 Kingsland Avenue in the Greenpoint market, this development site was recently sold in a closed transaction. The property spans 5,000 square feet and is positioned as a valuable asset for potential development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $1,600,000
• Address: 131 Kingsland Avenue
• Market: Greenpoint

The buyer in this transaction is Hershy Silberstein, who acquired the property from the Mawyin Family. Representing both the buyer and seller in the deal were Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, and Corey Haynes from BRG (Bestreich Realty Group). They played a pivotal role in facilitating the successful sale.

With a sale price of $1,600,000, the development site offers a price per buildable square foot (PPBSF) of $320. This attractive deal presents a significant opportunity for development in the Greenpoint market.