Investmates Acquires Greenpoint Development Site In Brooklyn With Marcus & Millichap Brokers

The recent sale of a development site in Greenpoint, BK has generated significant attention. Located at 217 Franklin St, the property offers a prime opportunity for potential investors. The transaction took place on 3/29/19, and the asset consists of 6,356 SF with a lot size of 24.33’ x 96.75’. The sale price for this devsite was $2.1 million, resulting in a price per buildable square foot (PPBSF) of $330.

Summary of transation details

• Property Type: Devsite
• Transaction Amount: $2.1 million
• Address: 217 Franklin St, Greenpoint, BK
• Market: Greenpoint, BK
• Seller: Walter Mcnally
• Buyer: Investmates - Koby Telyas
• Brokers: Mike Salvatico, Shaun Riney, & John Barney - Marcus & Millichap
• BSF: 6,356 SF
• PPBSF: $330
• Lot Size: 24.33’ x 96.75’

In this transaction, the seller, Walter Mcnally, successfully closed the deal with the buyer, Investmates - Koby Telyas. The brokerage team at Marcus & Millichap, consisting of Mike Salvatico, Shaun Riney, and John Barney, played a crucial role in facilitating the transaction. Their expertise and negotiation skills contributed to the smooth completion of the deal.