A development site located at 173 Lexington Avenue in Clinton Hill, Brooklyn, has been sold for $1,550,000. The site possesses a buildable square footage of 5,000, resulting in a price per buildable square foot of $310. The asset was delivered vacant at the time of the sale.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,550,000
• Address: 173 Lexington Avenue
• Market: Clinton Hill, Brooklyn
• Buildable Square Footage: 5,000
• Price Per Buildable Square Foot: $310
• Buyer: Avi Ben Hamo
• Seller: William Durr - Machine Investment Group
• Broker Representatives: Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring & Samantha Katz - Investment Property Realty Group (IPRG)

The transaction was facilitated by a team of brokers from Investment Property Realty Group, which included Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Samantha Katz. They provided expertise in the development site market, representing both the buyer and seller throughout the process.