The development site located at 221 Wythe Avenue in Williamsburg, Brooklyn, was sold for $12,700,000. The asset encompasses a lot size of 6,318 square feet, featuring 24,641 buildable square feet, translating to a price per buildable square foot of $515. The property provides 177 feet of wraparound frontage at the corner of N 3rd St.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,700,000
• BSF: 24,641
• PPBSF: $515
• Lot Size: 6,318 SF
• Address: 221 Wythe Avenue
• Market: Williamsburg, Brooklyn
• Seller: Blue Sky Diner Inc. – Sandy Stillman
• Broker: Andrew Manasia & Daniel (Dan) Lebor - Terra CRG

The deal involved the acquisition of air rights from neighboring parcels by the developer. Plans for development include constructing 28 apartments along with approximately 5,000 square feet of ground floor retail over six stories. Interested parties can reach out to Andrew Manasia for further details or to consult on additional development opportunities.