Mortar Architecture & Development Acquires Dev. Site In Greenpoint, Brooklyn For $4 Million

The development site located at 31-33 Frost Street in Greenpoint, Brooklyn has been sold for $4,000,000. The property measures 50 ft x 100 ft and has a floor area ratio (FAR) of 2.0, allowing for a total buildable square footage of 10,000 SF. With a price per buildable square foot (PPBSF) of $400, this transaction represents an opportunity for future development in the area.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,000,000
• Address: 31-33 Frost Street, New York
• Market: Greenpoint, Brooklyn
• Lot Size: 50 ft x 100 ft
• Floor Area Ratio (FAR): 2.0
• Buildable Square Footage: 10,000 SF
• Price Per Buildable Square Foot (PPBSF): $400

Mortar Architecture + Development has acquired the property from seller Michelle Gennaoui. The transaction was facilitated by BRG, with Adam Lobel, Luke Sproviero, and Derek Bestreich representing the buyer in the deal. This acquisition presents a promising opportunity for Mortar Architecture + Development to further expand their portfolio in the Greenpoint market.