Ariel Property Advisors Arranges the Sale of $31M Development Site in Downtown Brooklyn

This development site located at 245 Duffield Street in Downtown Brooklyn was sold for $31,000,000. The property offers 100,056 square feet of buildable space, translating to a price per square foot of $310.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $31,000,000
• Address: 245 Duffield Street
• Market: Downtown Brooklyn
• Buildable Square Feet: 100,056
• Price Per Buildable Square Foot: $310
• Buyer: Steven Shi - Golden Stone Management
• Broker Representatives: Sean R. Kelly, Esq., Stephen Vorvolakos & Nicole Daniggelis - Ariel Property Advisors

This transaction marks the 11th development site sold by the broker team this year, with an additional 4 properties in contract and several other active deals in progress. The team has successfully managed approximately 885,000 buildable square feet amounting to nearly $200 million across Brooklyn and Queens in 2025.