Brodsky Family Acquires Development Site From Wolf Family In Brooklyn For $15M

The transaction involved a development site located at 38-44 State Street in Brooklyn, which was acquired for $15,000,000. The property encompasses a building square footage (BSF) of 30,522 and a saleable floor area (SF) of 10,284, with a price per building square foot (PPBSF) of $491 and a price per square foot (PPSF) of $1,458.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,000,000
• Address: 38-44 State Street
• Market: Brooklyn
• Buyer's Name: Brodsky Family
• Seller's Name: Wolf Family
• Buyer's Representative: Michael Zats - Brooklyn Heights Real Estate

This transaction was conducted off-market and highlights the ongoing opportunities in prime Brooklyn Heights. Michael Zats, the buyer's representative, indicates future potential for buyers and sellers in the development site market.