Compass Brokers Acquire Development Site In DUMBO For $48.5M

Located in DUMBO, a development site at 218 Front Street recently changed hands in a sale transaction. The property, spread over a total of 148,000 square feet, fetched a sale price of $48,500,000. With a price per buildable square foot (PPBSF) of $327, this development site presents an attractive opportunity for potential investors.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $48,500,000
• Address: 218 Front Street
• Market: DUMBO
• Buyer's Representatives: Alexandra Chou & Bryan Atienza - Compass
• Seller's Representative: David Chou - Chous Realty Group
• BSF: 148,000
• PPBSF: $327

Representing the buyer in this transaction were Alexandra Chou and Bryan Atienza from Compass. On the other hand, David Chou from Chous Realty Group acted as the seller's representative. Their expertise and negotiation skills played a crucial role in the successful completion of this deal.