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264 Butler Street

Goose Property Management Acquires Development Site At 264 Butler Street In Brooklyn For $15.25M
SOLDDevelopment Site

Goose Property Management Acquires Development Site At 264 Butler Street In Brooklyn For $15.25M

264 Butler Street

$15,250,000

$242/SF

Building Size

63,000 SF

Asset Type

Development Site

Closing

Aug 18, 2025

AI

The property asset involved in this transaction is a development site located at 264 Butler Street in Brooklyn. The transaction was completed for a total price of $15,250,000, with a building square footage of 63,000 and a price per building square foot of $242.

Summary of transaction details:

The deal was facilitated by the brokerage team of Ethan Stanton, Brendan Maddigan, Michael Mazzara, and Winfield Clifford, who represented the parties involved. The transaction showcases active participation from experienced brokers within JLL in navigating the sale of this development site in Brooklyn.

Players

Brendan Maddigan

JLL

Broker

$4.7B

vol

127 deals

Broker
JLL
JLLBrokerage

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.04%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93