Wally Lawman Acquires Development Site From Langone Family In Brooklyn For $3.3M

The asset involved in this transaction is a development site located at 264 North 9th Street in Brooklyn. The sale price of the property was $3,300,000, with a building square footage (BSF) of 6,750, resulting in a price per building square foot (PPBSF) of $488. The property spans a total square footage (SF) of 1,500, equating to a price per square foot (PPSF) of $2,200.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,300,000
• Address: 264 North 9th Street
• Market: Brooklyn
• BSF: 6,750
• PPBSF: $488
• SF: 1,500
• PPSF: $2,200
• Buyer: Wally Lawman
• Seller: Langone Family
• Broker: Nathan Horne - Compass

Nathan Horne, representing the buyer, noted that the transaction involved multiple contracts and numerous offers, including a hard contract at over $500 per BSF. The deal was facilitated through Horne's background as an attorney, aiding the process. Horne expressed appreciation for both the diligent efforts of the buyer and the cooperation of the seller throughout the negotiation process.