The development site located at 133 Kent Avenue in Brooklyn has been sold for $48,250,000. The asset encompasses a total square footage of 72,000, resulting in a price per square foot of $670.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $48,250,000
• Address: 133 Kent Avenue
• Market: Brooklyn
• Square Footage: 72,000
• Price Per Square Foot: $670
• Buyer: Joyland Group - Joel Wertzberger
• Seller: L3 Capital - Paul Szigetvari, Domenic Lanni & Tim Phair
• Brokers: Ethan Stanton, Brendan Maddigan, Michael Mazzara & Brett Baskin - JLL

The buyers, represented by Joel Wertzberger of Joyland Group, acquired the site from a group led by Paul Szigetvari, Domenic Lanni, and Tim Phair from L3 Capital. The transaction involved multiple brokers from JLL, including Ethan Stanton, Brendan Maddigan, Michael Mazzara, and Brett Baskin, who facilitated the deal.