Development Site At 192-196 31st Street Sells For $4 Million In Brooklyn

The asset involved in the transaction is a development site located at 192-196 31st Street in the Greenwood Heights neighborhood of Brooklyn. The sale price for this property was $4,000,000, with a building square footage of approximately 18,000. The price per building square foot (PPBSF) is calculated at $222.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,000,000
• Building Square Footage: 18,000
• Price Per Building Square Foot: $222
• Address: 192-196 31st Street
• Market: Greenwood Heights, Brooklyn

The brokers facilitating the transaction were Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring, all representing the Investment Property Realty Group. Their involvement played a crucial role in concluding the sale of this development site.